JP Morgan Asset Management today announced the promotion of Christopher Spelman as the chief executive officer (CEO) of its India business and the appointment of Nandkumar Surti as the chief investment officer (CIO).
The company also announced the resignation of its executive chairman Krishnamurthy Vijayan who will leave the company shortly to take up a senior position in another firm.
In his new role, Spelman will be responsible for asset management business, including sales and marketing, product development, operations, staffing and budgetary controls, a press release issued here stated.
Spelman has been with JP Morgan for over 12 years.
Nandkumar Surti, the erstwhile CIO of Fixed Income at JP Morgan Asset Management, will now be the CIO for the entire India asset management business.
Surti joined the firm in the year 2006 and has been instrumental in building a strong fixed income business for JP Morgan Asset Management in the country, release added.