JP Morgan Asset Management has poached Invesco PowerShares boss for expansion into UK exchange-traded fund (ETF) market.
Bryon Lake will join as head of international ETFs be responsible for driving and accelerating the firm’s international ETF expansion across Europe and Asia.
‘Our intention is to build a global beta strategies business with strategic, alternative, and ETF capabilities to serve the needs of clients globally. Having initially focused our efforts in the US, expansion internationally represents the next step,’ said Michael Camacho, global head of beta strategies at JP Morgan.
Wealth Manager revealed last month, Lake’s exit from Invesco PowerShares, where he held various positions in his 12-year tenure, latterly serving as head of Europe, the Middle East and Africa (EMEA).
Lake (pictured) said: ‘The opportunity to oversee the international expansion and development of a new business within a committed and deeply resourced global asset management firm is very exciting.’
He added JP Morgan is well equipped to innovative new ways of serving investors in an ETF structure.
Camacho said: ‘We are also poised to build on the operational and technological capabilities around beta strategies already in place for the US business to meet the needs of European and Asian investors.’
JP Morgan’s existing US-based ETF has over $1.4 billion (£1.15 billion) in assets under management across a suite of eleven products.