JPMorgan CIO macro manager David Slater to join hedge fund

David Slater, a senior macro portfolio manager in JPMorgan’s London Chief Investment Office, has resigned and is serving a notice period ahead of a role at a hedge fund, according to people familiar with the matter. The identity of the hedge fund has not been disclosed.

Slater joined JPMorgan Chase in 2019 and has decades of experience across rates, inflation and foreign-exchange markets. Before joining the bank he worked at Trium Capital and was global head of inflation trading at Bank of America. Earlier roles included senior trading positions at UBS, Nomura and BNP Paribas.

At JPMorgan’s London Chief Investment Office, Slater managed investments across global interest-rate and foreign-exchange markets. The CIO manages the bank’s balance sheet, invests excess deposits and coordinates asset‑liability management with the treasury.

Following the 2012 ‘London Whale’ losses, the bank reorganized the CIO, narrowed its remit and strengthened risk oversight while integrating the unit more closely with treasury functions. The CIO in London is overseen by senior executive Charles Bristow, according to people familiar with the group.

Hedge funds have increased hiring of experienced macro and inflation specialists to support strategies that trade rates, inflation-linked securities and currency markets as interest-rate expectations shift and geopolitical risks continue.

The date Slater will start at the hedge fund and details of his role remain undisclosed. Neither Slater nor JPMorgan has commented publicly.