In changes to the senior management team of JP Morgan Asset Management India, Krishnamurthy Vijayan, formerly chief executive and whole-time director, has been promoted to executive chairman, while Christopher Spelman has been appointed head of the asset management business.

In his new role, Mr Vijayan, who has been with JP Morgan Asset Management since its entry into India in early 2007, will focus on growing the business, along with overseeing regulatory and governance matters.

Mr Spelman will be responsible for controlling the India asset management business, including operations, staffing and budgetary controls.  In his 11 years at JP Morgan Mr Spelman has worked in various locations across the Asia Pacific region, and was instrumental in setting up the firm’s asset management operations in Korea.

David Hsu, chief executive, Asia Pacific, JP Morgan Asset Management, said: “The promotion of Krish to executive chairman and the appointment of Chris as head of business reinforces our commitment to growing the India asset management business.”

Meanwhile, in a deal expected to close during the first quarter of this year, JP Morgan will buy UBS Warburg Energy Holdings, a Canadian-based commodities energy business, along with UBS’ global agricultural business. The terms of the deal have not been disclosed

JP Morgan Asset Management has $1.2 trillion in assets under management as at 30 September 2008 and has offices in 40 locations around the world.