JPMorgan Chase & Co. (JPM)’s asset-management business hired Gareth Haslip to lead U.K. strategy for a group that advises insurance clients on investments and oversees more than $90 billion.
Haslip previously was a director at Aon Benfield Securities and Aon Hewitt’s Insurance Asset Solutions, units of broker Aon Plc (AON), according to a statement today from New York-based JPMorgan. Prior to that, he worked in Goldman Sachs Group Inc.’s asset-management business, focusing on insurance clients.
“Gareth’s extensive experience of advising insurance companies on their investments will further strengthen our capabilities and deep working relationships with insurance companies in the U.K.,” Douglas Niemann, head of strategy and analytics for JPMorgan Asset Management’s global insurance solutions team, said in the statement.
JPMorgan is adding staff as it vies with Goldman Sachs, BlackRock Inc. and Deutsche Bank AG for fee income from managing institutional client money. Insurance companies have outsourced oversight of some investment duties as they shift strategies amid new regulation and low interest rates.
In June, JPMorgan said it hired Prashant Sharma from Goldman Sachs to head international fixed-income investments for insurance clients. Niemann joined the team in 2012 from insurer American International Group Inc. (AIG)
Earlier this month, Goldman Sachs announced the hiring of Neil Moge from JPMorgan to lead a London-based team overseeing insurer client money.
Haslip holds a Ph.D. in actuarial science with a focus on derivative pricing from Cass Business School in London, according to the statement. David Prosperi, a spokesman for London-based Aon, declined to comment on the departure.
To contact the editor responsible for this story: Dan Kraut at firstname.lastname@example.org