- Christopher Spelman appointed CEO
- Nandkumar Surti is CIO
J.P. Morgan Asset Management today announced the promotion of Christopher Spelman to the position of Chief Executive Officer of its India business and the appointment of Nandkumar Surti as Chief Investment Officer effective January 19, 2010. The AMC also announced the resignation of its Executive Chairman, Krishnamurthy Vijayan, who will leave the company shortly to take up a senior position at another company.
In his new role, Mr Spelman will be responsible for managing every aspect of the India asset management business including sales & marketing, product development, operations, staffing and budgetary controls. He has been with J.P. Morgan for over 12 years, working in a number of locations around the world, which has provided him with an extensive knowledge of the Group and its businesses. Throughout the last 12 months, Mr Spelman has worked closely with senior members of the management team to grow the India business and is committed to building on what has already been achieved.
Nandkumar Surti, the erstwhile CIO of Fixed Income at J.P. Morgan Asset Management will now be the CIO for the entire India Asset Management business. Mr Surti joined the firm in 2006 and has been instrumental in building a strong Fixed Income business for J.P. Morgan Asset Management in India.
Commenting on these developments, David Hsu, CEO of J.P. Morgan Asset Management – Asia Pacific, said, “I would like to take this opportunity to thank Krish for his contribution to the firm over the last four years and to wish him every success in his future endeavours. He and Chris have worked well together in the past year and I am confident that under Chris’ leadership, the AMC will continue to expand and capitalise on our existing strengths to create a robust business in the future.”
Speaking on Nandkumar Surti’s appointment as CIO, Mr David Hsu added, “Nandu has earned tremendous prominence in India for leadership within the investment community and we are confident that he will continue to build on this momentum as the CIO of our India business.”
Christopher Spelman, Chief Executive Officer, J.P. Morgan Asset Management added, “We are sorry to see Krish leave the firm. With his extensive experience in the Indian mutual fund industry, he has made a valuable contribution to the firm and to the team during the past four years, investing his time, talent and wisdom to ensure that we have a successful business. He leaves the firm in good shape and we intend to further develop a diversified product portfolio for our clients and a strong brand presence in order to ensure a sustainable long term mutual fund business in India.” He added, “Nandu brings with him the expertise and track record of a successful fund manager along with the hands-on business experience of a seasoned business executive. We are extremely pleased to have him take over the reins as CIO of the India business.”
Nandkumar Surti, Chief Investment Officer, J.P. Morgan Asset Management said, “I am excited about this opportunity and would like to thank all my colleagues for their continued support. As a leading global provider of investment solutions, we aim to offer the knowledge, global resources, innovative solutions and long-term relationships that Clients seek in an investment partner and I am optimistic that we will continue to strengthen these offerings during 2010 and beyond.”
Statutory details: Sponsor: JPMorgan Asset Management (Asia) Inc. Trustee: JPMorgan Mutual Fund India Private Limited, a company incorporated under the Companies Act, 1956. Asset Management Company: JPMorgan Asset Management India Private Limited, a company incorporated under the Companies Act, 1956. JPMorgan Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, by JPMorgan Asset Management (Asia) Inc., liability restricted to initial contribution of Rs.1 lakh.
Risk Factors: Mutual fund investments are subject to market risks. Please read the offer document, Statement of additional information and Scheme information document carefully before investing.
Notes to Editors
J.P. Morgan Asset Management (“JPMAM”) is the brand name of J.P. Morgan Chase & Co’s asset management companies. J.P. Morgan Asset Management is a global asset management leader providing world-class investment solutions to clients. With over US$1.2 trillion in assets under management (the Asset Management client funds of J.P. Morgan Chase & Co. as at 30 September 2009) and offices in 40 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.
J.P.Morgan Asset Management India Private Limited (“JPMAMIPL”) is the Indian arm of JPMAM
