UK - Arno kitts is stepping down as head of JPMorgan Fleming Asset Management's UK institutional investment arm.
His decision comes amid reports of 300 job cuts at the firm.
JPMorgan – the UK’s eighth largest fund manager, employing 8000 people in the UK – is aiming to cut its cost base by 20%.
A JPMorgan spokeswoman said Kitts was considering posts both internally and externally and his decision was not related to the reported redundancies.
The UK arm of the business will now be headed by the head of institutional business for Europe, Asia and Japan, Mark White.
The spokeswoman explained: “The UK is a hub for the international consultancy business and Mark White is well-placed to deal with that market quite closely.”
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