US fund house JP Morgan Asset Management is transferring its Asia Pacific chief executive, Jed Laskowitz, to New York to co-manage a newly combined business unit, AsianInvestor can reveal.

Laskowitz has been named co-head of JP Morgan’s global solutions business, which manages about $150 billion of multi-asset-class portfolios via teams in the US, UK and Hong Kong.

The co-head structure is new, so Laskowitz is not replacing anyone in the role, said a company spokesman. He retains his duties as Asia-Pacific CEO for the firm’s asset management business in Asia, and is therefore taking on additional responsibilities.

Laskowitz would maintain offices in both Hong Kong and New York, said the spokesman: “Jed will be Asia-Pacific CEO for a lengthy period of time. He is accustomed to spending time in Asia, London and New York.”

JP Morgan Asset Management is also set to announce the appointment of Michael Falcon as head of its Asia mutual funds business in Hong Kong. The appointment is effective immediately, although Falcon won’t be transferring until January next year. He takes over from Laskowitz in this role.

Falcon is based in New York, where he had served as head of the firm’s retirement business. He will now be tasked with oversight of all aspects of JP Morgan AM’s mutual fund business in Asia, reporting to Laskowitz, and into the global mutual fund business led by George Gatch.

Asked why JP Morgan was making this move now, the spokesman said: “We continually review our management structure to ensure we are best positioned to maintain momentum and capital markets expertise to develop customised solutions for clients.”

JP Morgan AM did not disclose who would take over from Falcon as head of its retirement business in New York, nor who would serve as co-head of its global solutions business alongside Laskowitz. “We have not announced this externally,” the spokesman noted.

JP Morgan AM’s global solutions unit is a new business combining its multi-asset investment capabilities with advisory solutions and capital markets expertise.

Asked to summarise the progress of JP Morgan AM in Asia since he took over in 2012, Laskowitz told  AsianInvestor: “Over the past three years we have raised the bar on how we serve our clients, from a regional and local perspective. 

“We’ve delivered real market insights, tools and training to thousands of clients and successfully launched innovative new products to meet our clients’ needs. We have strengthened our message and presence in the region and I am proud of our teams who have worked very hard to accomplish this. I look forward to maintaining our momentum and serving our clients in the Asia-Pacific region.”

JP Morgan AM has won asset manager of the year for the past three years from AsianInvestor. Earlier this year it also won our award for best business development, while in 2013 it picked up best investor education programme for the launch of its market insights initiative.