Jupiter Asset Management has hired Mark Richards from JP Morgan ASset Management as it builds a multi-asset team under Talib Sheikh.
Richards will join as multi-asset strategist, following in the footsteps of Sheikh, who transferred from JPM to Jupiter last year.
Richards spent three years at JP Morgan as a multi-asset strategist. He was previously a global equity strategist at PIMCO and held the same role at Credit Suisse.
Jupiter's latest hire will focus on the Jupiter Flexible Income fund, which launched in September. He will also identify key market themes and try to make them across the firm's multi-asset portfolios.
In parallel, Joseph Chapman has been promoted to assistant fund manager of the multi-asset team. He joined Jupiter in 2010 and was a quantitative analyst covering global convertibles and multi-asset strategies.
Sheikh said: 'I am delighted that Mark has decided to join Jupiter. His equities experience will perfectly complement the team’s existing expertise, sitting comfortably alongside fixed income and convertible bond specialists Rhys Petheram and Lee Manzi.
'Since starting at the company last year I have been consistently impressed by the positive and high calibre engagement I have experienced from asset class specialists across the range of Jupiter’s investment capabilities – a quality vital to building and fostering a successful multi-asset strategy.
'Mark’s appointment and Joseph’s promotion will provide valuable support as we continue to build out the strategy.'