Japan’s No. 2 Equity Strategist Kitano to Quit JPMorgan

JPMorgan Chase & Co. (JPM)’s chief equity strategist in Tokyo, Hajime Kitano, will resign the investment bank, he wrote in an e-mail to clients today.

Kitano was ranked Japan’s No. 2 equity researcher for 2012 by Institutional Investor magazine, falling from the top spot he held the previous year. JPMorgan spokeswoman Yukako Yoshino declined to comment. Kitano was not immediately available when called.

“Kitano had deep insights, and he was popular with his analysis,” said Koji Toda, chief fund manager at Tokyo-based Resona Bank Ltd., which oversees about $174 billion. “He was helpful in analyzing past events for future investments. I’m surprised to know he is leaving.”

Kitano, who topped Institutional Investor’s survey in 2011 and 2007, said in his e-mail that conveying information on the financial markets is his calling, and he hopes to send out reports again.

To contact the reporters on this story: Toshiro Hasegawa in 東京 at thasegawa6@bloomberg.net; Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net