UK/GLOBAL - J.P. Morgan Asset Management has hired Mike O'Brien, BlackRock's former head of institutional business for EMEA, as its global head of the institutional client group.
This is a new role for J.P. Morgan and is meant to "bolster its client coverage model to reflect institutional clients' increasingly more global approach to asset allocation and investments", the firm said.
O'Brien, who will be based in London, will start on 27 September and report to CEO Mary Callahan Erdoes.
"An evolution is underway in the investment management arena whereby our clients around the world, be it a Sovereign Wealth Fund in Asia, a pension fund in the U.S., or an insurance company in Europe, are each looking for a global perspective on capital allocation from us, given our wide range of strong performing asset classes and absolute return strategies," said Erdoes.
"We believe Mike's impressive institutional experience, proven track record and extensive global perspective will continue to enhance our offering to major institutional investors in every corner of the world."
O'Brien, joined Barclays Global Investors in 1999. He took over as European chief after BlackRock's head of European institutional business, Andrew Dyson, moved to San Francisco following the acquisition of BGI last year. He left BlackRock in June. (Global Pensions; 25 June 2010)
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