In yet another instance of how Asia-based talent is being charged with the mandate of managing a global business, J.P. Morgan has promoted its head of fixed income for emerging Asia markets, Tarun Mahrotri, to a global co-head role.
Mahrotri's promotion follows a reorganisation by J.P. Morgan of its global fixed-income business. Hong Kong-based Mahrotri will now co-head fixed income for global emerging markets together with London-based Mike Stewart, who also heads fixed income in Central and Eastern Europe, Middle East and Africa. Mahrotri and Stewart will remain in their current locations and report to Daniel Pinto in London and Matt Zames in New York, who co-head global fixed income.
"Tarun's appointment is further evidence of J.P. Morgan's commitment to emerging markets and especially Asia," said a source in the know of the development. Since Mahrotri joined J.P. Morgan from HSBC in 2006 he has been aggressively growing the business he heads.
In 2009, J.P. Morgan invested in strengthening its fixed-income sales and trading capabilities in 10 local markets in Asia and built an illiquid trading book. As one of the banks to emerge from the subprime-sparked crisis relatively unscathed, J.P. Morgan also continued to provide liquidity and risk management to clients through the crisis, cementing its existing relationships and building new ones in the process.
Mahrotri joins other Hong Kong-based business heads with global responsibilities at J.P. Morgan. In February the US bank relocated Douglas Wurth, the head of its international private banking unit, to Hong Kong from New York. Chris Nicholas, who heads J.P. Morgan's global special opportunities group, is also based in Hong Kong.
