Jupiter Asset Management has promoted one of its own for the role of head of trading, The TRADE can reveal.
Mike Poole has been appointed to the position after serving at Jupiter Asset Management for nearly 18 years.
Originally joining Jupiter in 2005 as a dealer. He later moved to the newly created centralised fixed income dealing desk in 2010 to start trading high yield, investment grade, fins, rates, convertible bonds, government bond futures and FX.
He was promoted to his most recent role as head of fixed income dealing in 2017. Prior to joining Jupiter in 2005, Poole spent a year at Barclays Wealth as a portfolio manager.
“We are very pleased that Mike has taken on the role as our new Head of Trading,” Alison Hollingshead, Jupiter’s chief operating officer told The TRADE. “Mike has extensive experience trading for Jupiter across multiple asset classes and I am looking forward to working closely with him to deliver an excellent trading experience for our investment teams, proactively adding value using a tech and data-led toolkit.”
Speaking in an Oxford-style debate at the Fixed Income Leaders Summit in October, Poole claimed it was time to overhaul the way the buy-side pay for balance sheet.
“Our ability to ascertain how much we pay can be curtailed by the nature of trading. Opportunity costs in a fragmented marketplace has been a silent killer of investment returns for years,” he said. “We can’t get rid of opportunity costs but enhancing conversations with post-trade analysis and understanding of costs is vital as we approach new transparency in fixed income. We have a fiduciary duty to shine a light on how much we’re paying for a balance sheet.”
Instead, he suggested replacing the current regime with paying commission on a trade-by-trade basis or through a flat monthly fee.