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JP Morgan appoints new head of investment trust business

US based investment bank JP Morgan Chase & Co has appointed Simon Crinage as the new head of investment trusts, effective immediately.

Crinage will spearhead JP Morgan Asset Management’s 21-strong trust business, which manages over £7bn in assets under management.

Having spent 28 years at JPM including the last 10 years as an investment trust client director, Crinage will report to Jasper Berens, head of UK fund management.

Expressing his views, Crinage said he is hopeful the range of trusts will continue to gain grip in the post retail distribution review (RDR) world.

He further said that the regulatory landscape changes caused by the implementation of RDR may open up opportunities for the sector to reach the independent financial advice market, where it has been under-represented for years.