JP Morgan European chief Jamie Broderick to step down

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JP Morgan Asset Management’s European chief Jamie Broderick is to step down more than 20 years after joining the firm.

Broderick, one of JP Morgan’s leading figures outside the US, was in charge of its push into European investment as head of the firm’s investor business, mutual fund business and retail and institutional operations in the region.

The company’s Europe, Middle East and Africa section is now its largest sector outside of North America, with $278bn of assets under management at the end of the last quarter – about one-fifth of the company’s total.

Broderick joined JP Morgan in 1993 from Boston-based Wellington Management, where he was director of client marketing services.

He is also chairman of investment company Institute’s trade body ICI Global.

JP Morgan offshoot One Equity Partners recently found a buyer for its €220m stake in Austrian aluminium business AMAG.

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