JP Morgan Asset Management has added Peter Pergovacz to its global liquidity sales team covering Europe, the Middle East and Africa.

Pergovacz joins from JP Morgan Worldwide Securities Services, where he was a relationship manager for clients from insurance companies, corporates, pension funds and foundations in Germany, Austria and Switzerland. Earlier in his career, he worked in sales roles at hedge fund manager Naissance Capital and Sal Oppenheim Private Equity Partners.

In his new role, Pergovacz will be based in Frankfurt with responsibility for sales in Germany and Austria. He will report to Sven Lorenz, head of global liquidity in North Central and Eastern Europe. His appointment takes the headcount in the asset manager's sales force to 35 globally.

“Peter’s hire represents our expansion into continental Europe and our belief in the money market sector as a whole," Lorenz said in a statement.

Between June 2007 to the end of June 2012, the firm’s international liquidity fund assets grew by just over 90 per cent, the firm said in a statement.

JP Morgan Asset Management had $1.3 trillion in assets under management at the end of June and offices in 41 locations around the world.