JPMorgan Names Head Of Alt. Investment Group

Nov 18 2005 | 8:51pm ET

JPMorgan Chase has appointed Doug Wurth to the newly-created position chief executive of its alternative investments group, which has around $15 billion in assets under management.

Wurth's appointment to the position follows a decision by the bank split the job of the current group head in two in order to expand its leadership. Up until now, Andy Craighead, chief investment officer of alternative investments, has been running the group single-handedly. Craighead, who will remain in his position as cio, helped found the division in 1981.

Wurth will relocate to New York from his current base in London, where he was head of investment solutions for Europe, the Middle East and Africa. In his new role, he will oversee the alternative investment group's product development, pipeline projects, portfolio management and marketing.

Wurth and Craighead will both report to Bob McLain, head of the investment solutions group.

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