Fleming joins Threadneedle

Currently JPMorgan Asset Management's managing director, head of UK business, Mr Fleming will be replaced at the end of the month by Roger Thompson, chief financial officer of the US fund company's international businesses.

Mr Fleming will answer directly to Threadneedle chief executive Crispin Henderson when he joins his new employer in November.

Mr Henderson noted his new employee's "exceptional background in most aspects of the asset management business", which he said gave him the requisite experience to extend the UK company's global sales footprint.

Mr Fleming's new role was vacated by David Gasparro in January and temporarily filled by Mr Henderson while markets stabilised this year. He will oversee both retail and institutional sales teams worldwide, as well as the firm's marketing and product development teams.

The appointment follows a period of strong performance for the company. All of its UK equity products currently sit in the top 30 per cent of their peer groups over three years, with the exception of the smaller companies product.

But the firm has nonetheless fallen in the IMA investment company rankings in terms of assets in the recent past.

Threadneedle ranked 9th at the end of August, with £17bn in onshore retail and institutional funds under management, according to the trade association. A year earlier it was placed 8th, and in August 2006 it was the fourth largest provider.

JPMAM figures further down the IMA's ranking, in 21st place, for August - though this does not include investment trusts, in which the company is the UK leader.

Jamie Broderick, head of Europe for JPMAM, stressed Mr Thompson was already familiar with many of the developments in the UK division.

He said: "Roger has worked on many of the strategic developments in the UK business and as such brings a significant understanding of our UK business, its products and clients to his new role."