The appointment will take effect on August 8, with Torres set to retire and return to Europe after 23 years with the group.
The US firm's former Singapore chief is on gardening leave. Sources say he will take up an institutional client-focused role in Hong Kong at another large fund house.
JP Morgan Asset Management's new sub-advisory partnership with Indonesian fund firm Mandiri Investasi may herald more such deals, amid growing local demand for global assets.
The US firm aims to build on the mutual funds business it has established in Singapore, including by exploring the options for opening a branch in Indonesia.
Steven Billiet explains how his role will differ from that of his predecessor, Andrew Creber, who is transferring to JP Morgan Asset Management Australia.