JP Morgan has hired a former head of European chemicals at Deutsche Bank to run its own team serving clients in the sector, adding to a flurry of moves among heads of chemicals in London that began in February.

Arkadi Nachimowski, who had been head of Deutsche Bank's European chemicals business since 2007 and has previously led the chemicals business at UBS, will report to Edmund Byers, head of industrials investment banking in Europe, the Middle East and Africa at the US bank, according to an internal memo seen by Financial News.