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JPMorgan Names Chang as Global Head of Fixed-Income Research

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Dec. 14 (Bloomberg) -- JPMorgan Chase & Co. named Joyce Chang as its global head of fixed-income research, according to an internal company memo seen by Bloomberg News and confirmed by London-based spokesman Patrick Burton.

Chang replaced Terry Belton, who was appointed the head of global portfolio strategy in the bank’s chief investment office last week, Burton said. Chang, who is based in New York, was previously the company’s global head of emerging-market research. In her new role, she will assume global responsibility for foreign-exchange, rates, securitized-products and public-finance research, the memo said.

John Normand’s role as the global head of foreign-exchange strategy in London will be expanded to include interest-rate strategy for Europe, Japan and Australia, according to the same document. He will report to Chang, the memo showed.

Chief Executive Officer Jamie Dimon has overhauled management during a year marred by more than $6.2 billion in losses at JPMorgan’s chief investment office. In July, he combined treasury services with the corporate and investment banks to create a new unit.

To contact the reporter on this story: Anchalee Worrachate in London at

To contact the editor responsible for this story: Paul Dobson at

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