JPMorgan announced yesterday that Nick Andrews and David Hancock are to become co-heads of institutional Asian equities.

The dynamic pairing will replace Fraser Partridge, the 18-year JPMorgan veteran who is stepping down to spend more time with his family.

Hancock is the current head of institutional equities in Australia, and is set to relocate to Hong Kong. Andrews meanwhile is a relatively recent recruit to JPMorgan from CSFB but as the current co-head of equity capital and derivatives markets has already had something of a transformational impact on the firm.

Both men will report to Steve Black, the global head of institutional equities, who says the "new partnership" of Andrews-Hancock will continue to accelerate JPMorgan's momentum in the equities business.