JPMorgan’s asset-management unit promoted Robert Stark to head of strategic relationships, replacing Lee Beck, who left for BlackRock last month.
Bloomberg News reports that Stark, previously the chief of strategy and business development, will lead sales efforts at JPMorgan Asset Management, which oversees $1.6tril. He’ll report to Andrea Lisher, head of North America for JPMorgan Funds.
In the meantime, Ted Orenstein, who was one of billionaire Steven A. Cohen’s top money managers, is joining Scoria Capital Partners to lead its investments in industrial stocks.
Bloomberg reports that Orenstein worked for Point72 Asset Management and its predecessor SAC Capital Advisors for the last 12 years, according to a Scoria investor letter obtained by Bloomberg News.
Finally, Deutsche Bank named Ahmet Arinc head of global foreign exchange in the first realignment of the business, a month after Richard Herman took over as head of fixed income and currency markets.
Bloomberg reports that Arinc, who already oversees emerging-markets debt, will manage currencies as part of a combination of the two units, according to an internal memo obtained by Bloomberg News. Arinc replaces Kevin Rodgers, who retired in June after 15 years to focus on what the bank said in April were scholarly interests, including academia and music.
JPMorgan Promotes Robert Stark to Head of Relationships
Scoria Hires Ex-SAC Manager Ted Orenstein for Industrials
Deutsche Bank Names Arinc Head of Global Foreign Exchange