Michael Falcon, the Asia Pacific (Apac) CEO of JP Morgan Asset Management, is leaving the company to join Prudential.
JP Morgan said Falcon will continue to serve in his existing role through year end and a successor will be announced in due course.
Based in Hong Kong, he has been JP Morgan's Apac CEO since July 2015. Prior to that, he was appointed head of Apac funds in October 2014.
During the transition period, Falcon will continue to be supported by the firm’s Asia asset management operating committee.
Under his leadership, JP Morgan formed a new alternatives solutions group in September, to make the asset class more accessible to high-net-worth and institutional investors in the Apac region.
Subject to regulatory approval, Falcon will join Prudential as its chairman and CEO for North America starting January 2019. He will be succeeding Barry Stowe, who is retiring at the end of the year.