MONEY MANAGEMENT

J.P. Morgan Asset Management adds head of international ETFs

Bryon Lake was named head of international ETFs at J.P. Morgan Asset Management (JPM), said a spokeswoman.

The position is new, and Mr. Lake is based in London, responsible for the $1.8 trillion money manager's international exchange-traded fund expansion. J.P. Morgan does not yet have ETF capabilities in Europe. It has more than $1.4 billion in assets under management in its existing U.S.-based ETF strategies.

Mr. Lake will work with distribution, client service and investment teams to identify opportunities in Europe and Asia.

“Our intention is to build a global beta strategies business with strategic, alternative and ETF capabilities to serve the needs of clients globally,” said Michael Camacho, global head of beta strategies, in a news release. “Having initially focused our efforts in the U.S., expansion internationally represents the next step.”

Mr. Lake was head of Invesco (IVZ) PowerShares Europe, Middle East and Africa. A spokeswoman said he was not directly replaced.