The former global head of trading at the world’s largest asset manager, BlackRock, has joined outsourced trading firm Linear Investment as the fund management industry seeks to cut costs after a tough start to the year.
The Daily Telegraph reports that Paul Walker-Duncalf, who left BlackRock last year, will head a team at Linear Investments to carry out trades for fund managers at small to medium-sized hedge funds and asset managers.
In the meantime, Bloomberg News reports that JPMorgan hired two former Bank of Japan officials for its research business in Tokyo.
Hiroshi Ugai, who was a deputy director general at the BOJ, was recruited this month as a senior economist, the firm said in an e-mailed statement. Rie Nishihara, who also had a stint at the central bank, was hired as a senior analyst covering the banking industry.