JP Morgan unveils new emerging market debt team

JP Morgan Asset Management has announced the arrival of a new head of emerging market debt, following a major shake up.

Pierre-Yves Bareau has joined from Fortis Investments where he had been CIO of emerging market debt for more than 10 years. He ran a number of funds including Fortis L Bond Best Selection World Emerging and previously held an A rating in France. Earlier this year he explained that the credit crisis was different to earlier emerging market crises, because it was rooted in the private sector.

Bareau’s appointment follows last week’s departure of Jeffrey Grills and Gunter Heiland, who were based in the US. The experienced duo had managed JPM Emerging Markets Debt for more than 10 years, and as a team ran $8 billion in the sector.

Bareau, who has close to 20 years' experience managing money in the asset class, will be based in London. He will report to Bob Michele (above), global CIO of fixed income, who joined JP Morgan a year ago after leaving Schroders.