JP Morgan AM hires ESG head from BlackRock

Jennifer Wu has vast international experience and has previously worked as a portfolio manager and analyst

JP Morgan Asset Management has announced the appointment of a new global head of sustainable investing from rival BlackRock.

Jennifer Wu is a well-known figure in the investment industry, having previously been a member of BlackRock’s sustainable investing team in New York for more than two years. Prior to that she worked as the company’s head of corporate strategy for the Asia Pacific region.

In her new role she will be based in London and will also lead JP Morgan’s dedicated sustainable investing leadership team, a group of senior figures within the company who share ESG best practice across asset classes.

Wu previously worked for the Asian Development Bank and started her career in venture capital and private equity, focussed on technology and renewable energy in Asia.

“In addition to aligning with investor values and client demand, we are aware of how environmental, social and governance factors can impact security valuations and enhance risk-adjusted return potential, and we are committed to fully integrating these principles into our portfolios,” Christopher Willcox, the company’s chief executive officer, said in a statement.

JP Morgan has undertaken a programme to integrate ESG factors across all of its investment approaches, globally, as a result of growing client demand. These factors have already been integrated into its acquisitions and asset management processes to reduce risk, the company said.

In 2018, the asset management division received its strongest scores to date from the UN PRI in its annual assessment of ESG approaches and two of the company’s real estate strategies were ranked top by the Global Real Estate Sustainability Benchmark.