JP Morgan Asset Management has hired Charles McKenzie as head of client portfolio management for Europe, the Middle East and Africa.

McKenzie was latterly at Aberdeen Asset Management, where he was EMEA fixed income chief; before that he was head of UK fixed income at Deutsche Asset Management.

In his new role, McKenzie will lead a 15-strong team and be in charge of client management, product design and new business development in the region. He will be a part of the global fixed income team and report to Bob Michele, chief investment officer of the asset manager’s global fixed income, currency and commodity investment activities.

Last month, JP Morgan’s asset management arm logged a net income of $386 million for the opening quarter of 2012, a drop of 17 per cent from the year before. These results reflected higher non-interest expenses and lower net revenue, the firm said. Net revenues, at $2.4 billion, fell 1 per cent year-on-year.

JP Morgan Asset Management had $867 billion in global fixed income and currency assets under management at the end of 2011.