Olson will manage and run the hybrids and preferred securities trading desk across the US, as reported by Bloomberg.
Olson quit JPMorgan in December last year, before the bank disclosed at least $2bn in losses from the CIO’s London operation, dubbed London whale.
The US based bank said that Olson will assist to lift its credit trading business, which was shrinking with the European sovereign debt crisis.
According to industry resources, Credit trends stabilized during the month but have deteriorated since the end of first quarter 2012.
