Patrick Thomson was appointed head of international institutional clients at J.P. Morgan Asset Management, Mr. Thomson said in a telephone interview.
The position is new, and he reports to George Gatch, CEO of J.P. Morgan Asset Management’s global clients.
Mr. Thomson retains his existing role as global head of sovereign clients, and now leads the firm’s institutional sales efforts for international clients, including pension funds and insurance companies.
“We see real opportunity to grow the institutional asset management business,” Mr. Thomson said. He said pension funds are growing, sovereigns are growing “something north of 15%” a year, and that insurance companies are “becoming bigger and more relevant.”
“Allied to that is (that institutional investors) are looking much more internationally from an investment perspective,” he said. Mr. Thomson highlighted moves from investors in Japan to look to invest in overseas assets.
Mr. Thomson also said diversification of investments has played a part, and he can draw on his role as global head of sovereign clients — a position he has held since 2010 — on that front. “A lot of what the sovereigns are doing has been at the leading edge of investing in a very broad set of assets,” such as real assets. “There are a lot of people interested in following some of those trends.”
J.P. Morgan Asset Management has $1.8 trillion in assets under management.