Two senior JP Morgan gatekeepers have resigned from the firm, Citywire can reveal.
Global head of manager selection Kristof Gleich, who is based in New York, has resigned from the firm, as has London-based David Saab, who is global head of fixed income research.
Citywire understands that Gleich is to join Chicago-based Harbor Capital Advisors.
He will join the firm in November as a president and report directly to Harbor's chief executive Charles McCain.
At JP Morgan, Gleich headed up the manager research team, made up of around 50 investment professionals, who are responsible for the selection and ongoing supervision of both external and in-house managers used on the US and international wealth management platforms.
Prior to joining JP Morgan in 2010, Gleich spent eight years at Goldman Sachs, where he was responsible for the selection of European equity managers. Before that he worked as a portfolio manager in AXA’s third-party fund management group.
To read Citywire's profile of Gleich from October 2015, click here.
Chicago-based Harbor Capital Advisors is a privately held investment manager. The firm houses Harbor Funds, which has $66 billion in assets under management across 22 funds with 20 subadvisors, largely spanning traditional asset classes with a single manager approach.
Saab hits the road
Saab, who reported to Gleich, has also resigned to take up a new role outside JPM.
He joined JP Morgan Private Bank in 2011 and oversaw bond manager due diligence, with a particular expertise in high yield, leveraged loans and emerging market debt.
Previously, he served as a portfolio manager at Banque Privée Edmond de Rothschild where he also conducted fixed income and absolute return fund research.
A JP Morgan spokeswoman confirmed the departure of Saab but declined to comment on Gleich's exit.