GERMANY - JP Morgan's German unit has poached Dirk Popielas, a well-known German pensions expert, from Goldman Sachs to head its pensions advisory group for Germany and Austria.

JP Morgan said Popielas would join in early October as a managing director of the group, which is not part of its asset management operations in Frankfurt but its investment bank.

Popielas will report to both Karl-Georg Altenburg, chief executive of JP Morgan Germany/Austria and Kevin Carter, who heads the bank's pension advisory group for Europe.

Popielas currently heads a pension and insurance services group at Goldman Sachs in Frankfurt, which provides consultancy services including asset-liability studies and advice on portfolio construction.

Due in part to this group's efforts, Goldman Sachs' asset management arm has generated around $20bn (€14.6bn) in assets in Germany, 60-70% of which come from pension-related investors.

Popielas, who has an actuarial background, is also involved in several committees tied to German occupational pensions association aba and the European Federation of Retirement Provision in Brussels.

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