JP Morgan Asset Management has hired Invesco PowerShares heavyweight Bryon Lake as head of international ETFs as it prepares to expand across Europe and Asia.
Lake, who has been at Invesco PowerShares for 12 years – most recently as head of EMEA, will drive JPM’s expansion of its passive range in geographies beyond the US.
Invesco PowerShares chief operating officer Matthieu Grosclaude will replace Lake on an interim basis.
A JPM spokeswoman says details of launches planned for this year will be announced in due course.
JP Morgan Asset Management global head of beta strategies Michael Camacho says: “Our intention is to build a global beta strategies business with strategic, alternative, and ETF capabilities to serve the needs of clients globally. Having initially focused our efforts in the US, expansion internationally represents the next step.”
The asset manager currently has 11 US-based ETFs accounting for $1.4bn (£1.15bn) assets as of end of February.
Camacho says: “As one of the industry’s most accomplished ETF executives, Bryon brings impressive leadership and momentum to the team.
“He will be instrumental in helping to shape our strategy including our product development, distribution agenda and strategic direction.”