J.P. Morgan Asset Management has hired Carlos Varela as global strategist for sustainable investing amid a raft of additions as the firm looks to expand its offering in the space.
Varela, who will relocate from New York to Madrid (pictured), takes on the role having worked as J.P. Morgan AM's head of institutional sales for Latin America previously. He will report to global head of sustainable investing Jennifer Wu.
The strategist will head a team tasked with developing J.P. Morgan's suite of sustainable products, the firm said, working with clients to create tailored investment solutions.
In addition to Varela's hire, Juan Lois has been added as Americas strategist for sustainable investing, based in New York, from Wespath Benefits and Investments, where he led sustainable investing activities.
J.P. Morgan AM also hired ex-Bank of England employee Caspar Siegert and former Amundi analyst Angelo Drei as global sustainable investing research and data analysts in its London office. Both will report to Wu.
Siegert most recently managed a team responsible for assessing risks across a wide range of asset classes and identifying potential financial stability implications at the BoE, while Drei was a quantitative research analyst at Amundi.
The pair will support the build-out of the Wall Street giant's proprietary ESG scoring framework as well as working on thematic research and analytics, in collaboration with the firm's investors and data scientists, with a particular focus on climate change and carbon transition research.
Wu said the hires reflect J.P. Morgan's "ongoing commitment to advancing sustainable investing solutions for our clients."
"As we broaden our sustainable investing platform globally, building on the depth of ESG integration across our global buy-side research analysts, we will continue to invest in our climate research and analytics capabilities and in enhancing our investment stewardship efforts," she added.
"This will include continuing to add talent as we further strengthen our corporate engagement."