UK/EUROPE - Following the merger between Chase Manhattan and JP Morgan at the beginning of the year, their asset management subsidiaries, JP Morgan Investment Management and Chase Fleming Asset Management, have formally announced the launch on May 14 into the UK market of their combined operation JP Morgan Fleming Asset Management.

“A key element of the new combined company will be its strong local market presence in all regions backed by the resources of a global company,” says Paul Bateman, head of JP Morgan Fleming Asset Management for Europe, Asia and Japan.

The UK unit trust business will be integrated into the new asset manager, although the Save & Prosper life and pensions arm, which has been closed to new business since 1998 will be retained, according to Jamie Broderick, head of UK retail business at the company.

Together, the companies form one of the world’s largest asset managers with over US$600bn (e670bn) in assets under management with 38 offices and 750 investment personnel.

At the same time a number of corporate communications moves have been announced in the Chase/JP Morgan group.
Victoria Thomas previously in charge of marketing and communications for JPMorgan Investor Services in the Asia-Pacific region, has switched roles to become head of marketing and communications at JP Morgan Investor Services EMEA (Europe, Middle East, Africa).

Avis Judd, former assistant vice president for Chase Global Investor Services’ product management and marketing, also changes roles within the new group, taking up a position concerned with the roll out of global straight through processing (GSTP) across JP Morgan Investor Services EMEA.