MONEY MANAGEMENT

J.P. Morgan Asset Management adds 2 co-CIOs

Brad Demong and Leander Christofides joined J.P. Morgan Asset Management (JPM) as co-CIOs, a spokeswoman said.

The positions are new. Messrs. Demong and Christofides focus on global private credit within J.P. Morgan’s global alternatives business managed by and report to Anton Pil and Chris Hayward, both managing partners.

The alternatives business has $120 billion in assets under management and invests in real estate, private equity, private credit, infrastructure, transportation, liquid alternatives and hedge funds.

“This move represents an immediate, significant expansion of our existing private credit offering in our alternatives business,” Mr. Pil said in a news release.

“As we continue to focus on the growth of our alternatives platform, we are committed to providing a broad range of differentiated solutions for our clients globally. Investors today are looking for access to unique opportunities across the credit spectrum, and (Messrs. Demong and Christofides) bring the kind of vast investment experience necessary to identify those opportunities,” Mr. Hayward added in the news release.

Mr. Demong was previously head of Europe, Middle East and Africa leveraged and distressed research also at J.P. Morgan Corporate and Investment Bank in the corporate and investment banking group at J.P. Morgan Chase & Co. Mr. Christofides was previously managing director and head of EMEA leverage and distressed trading also in the corporate and investment banking group at J.P. Morgan Chase.