Having primarily concentrated on the TMT sector at Goldman, Back will take charge of South East Asian equity capital markets at JPMorgan. Based in Hong Kong, he will report to Michiel Steenman, head of Asian ECM and new co-head Nick Andrews, whom he has known socially for a couple of years.

One of Asia's foremost James Bond trivia freaks, Back has also always been considered an ardent devotee of the Goldman ethos and his hiring by JPMorgan will be viewed as something of a coup by many in the market. Unlike nearly all of its competitors, JPM continues to expand rather than retrench its Asian franchise and its determination to sit at the top of the league tables across all product sectors is quite evident from the calibre of recent hires.

Prior to joining Goldman three years ago, Back worked at Schroders and is a lawyer by background. After a month's gardening leave, he will start at JPM in May.