JPMAM’s Gartside joins reinsurance giant

Bond veteran starts as Munich Re CIO on 18 March

JP Morgan Asset Management’s Nick Gartside is joining reinsurer Munich Re as chief investment officer in March.

In a statement on Monday, Munich Re said it has appointed Gartside (pictured) as a member of the board as well as CIO responsible for the whole asset management for the group.

He joins the firm on 18 March.

JPMAM announced on Friday the bond veteran had decided to leave his role as CIO in the global fixed income, currencies and commodities group after eight years to “pursue other opportunities”.

Munich Re chairman Joachim Wenning said Gartside had been added to the board so there was a central port of call for the investment portfolio results.

“We are convinced we can further optimise the risk-return-profile of our investment portfolio. An essential pre-requisite to achieve this is to centralise results responsibility,” he said.

Gartside, who joined JPMAM in 2010 from Schroders, is a named manager on four of the firm’s global bond funds: Global Bond Opportunities (Sicav), Global Strategic Bond (Sicav), Unconstrained Bond (Oeic), and Global Bond Opportunities (Oeic).

Iain Stealey will take over Gartside’s CIO role at JPMAM and continue to co-manage funds on which Gartside was named, alongside Robert Michele, CIO and head of global fixed income.

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