UK - The head of international institutional business at JP Morgan Fleming Asset Management, Mark White, has left the company after 28 years to “pursue external opportunities”.

White will be leaving the company next month, said spokeswoman Jackie Meere. His departure has triggered a consolidation of its retail and institutional business.

Meere told IPE: “We are taking the opportunity to simplify our international structure as a consequence of his move.”

“We thank him for his contribution to our success over the years and wish him well in the future,” the firm said in a statement.

James Broderick, previously head of the European retail and mutual fund business, has been appointed head of Europe, consolidating retail and institutional business in Europe under a single regional head.

“Broderick has recently firmly established JP Morgan Fleming as number two mutual fund provider across Europe with assets now over $100bn (€74.7bn),” Meere said.

Peter Schwicht will continue as head of Germany and head of institutional business, continental Europe. He will report to Broderick.

Peter Ball will go on as head of the UK institutional business, while Richard Cardiff, previously head of distribution for Far East equities, will head UK business covering institutional, retail, investment trusts as well as life and pensions.

JP Morgan Fleming Asset Management is also going to align its international regional management teams with the US business, so that “full responsibility for the international business will fall to each of the regional management teams”.

Keiichi Miki in will be responsible for Japan and David Hsu for Asia. Miki in, Hsu and Broderick will in turn report to Clive Brown, chief executive officer, international business.

“This new and simpler management structure will strengthen our business,” Meere said adding: “The profitability of our international institutional business is healthy and we are closing a record year of net new business wins.”

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