JP Morgan Global Growth and Income (JGGI) has appointed Steve Bates as a non-executive director, following the announcement of the trust’s merger with JP Morgan Elect in October.
Bates is currently serving as director and chief investment officer of Guardcap Asset Management, a subsidiary of Canadian firm Guardian Capital Group, having joined in 2013. He is also a non-executive director of Guardcap Ucits and The Biotech Growth Trust.
Bates has served as head of emerging markets at J.P. Morgan Fleming Asset Management, and was previously non-executive chair of Vinacapital Vietnam Opportunity Fund and Third Point Investors.
The merger with JP Morgan Elect will see JGGI’s assets under management, which had sat at around £1.5bn, grow to £1.7bn.
When the agreement was made, JGGI chair Tristan Hillgarth said it built on the success of the company’s merger with the Scottish Investment Trust in August, and that the deal would bring about beneficial scale and cost synergies.
He added: “The company will continue to benefit from the strength and depth of the JP Morgan management team and an investment strategy and process that has delivered strong results for shareholders.”
