JP Morgan Asset Management has merged its global and European equities teams to form a new global trading team, according to an internal memo.
A spokesperson confirmed the contents of the memo which explained the combined group was established to offer clients choice across both international and global equity strategies.
The International Equity Group, which will manage a combined $120 billion in client assets under management (AuM), brings together more than 96 investment professionals and will be led by Malcolm Smith, who previously led the European equity team.
Smith joined JP Morgan Asset Management in 2014 from BlackRock where he was a managing director within the fundamental equities team.
Prior to BlackRock, Smith worked at Merrill Lynch Investment Managers which was acquired by BlackRock in 2006.
His expanded role brings together teams across three distinct investment processes, all of which will be focused on long-term results.
The merger and Smith’s new role have been made effective immediately.