JPM restructures global fixed income team

J.P. Morgan has created a $100bn new multi-asset unit which will see a restructure of the firm's global fixed income team.

Bob Michele (pictured), CIO of the global fixed income and currency group, will now report to newly appointed global head of fixed income Chris Willcox as part of the reshuffle. Seth Bernstein, the previous global head of fixed income and a 28-year veteran of J.P. Morgan, will head up the new asset management solutions group which is the result of a merger of JPMAM's investment management and private banking multi-asset arms. Willcox joins from JPM's investment bank, where he was head of global rates in London.