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JPMorgan’s asset-management division has promoted James Peagam to head of global insurance solutions, an operation that oversees $78bn of client funds.

Bloomberg News reports that Peagam will be based in New York and report to Jed Laskowitz and Mike O’Brien, co-heads of global investment management solutions, JPMorgan said in an e-mailed statement.

Peagam takes on some duties previously handled by Matthew Malloy, who also worked with pensions and sovereign wealth funds and departed this year for Neuberger Berman.

In the meantime, Reuters reports that Morgan Stanley named John Collins as the co-head of its global healthcare banking group, according to an internal memo on Wednesday. He replaces Clint Gartin, who will become chairman of investment banking.

A veteran mergers and acquisitions banker, Collins most recently served as global operations officer in the investment banking division.

JPMorgan's Peagam to Lead $78 Billion Unit After Malloy Exit

Morgan Stanley names Collins to global healthcare banking co-head role: memo

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