As part of a global re-branding, the Flemings brand is to be dropped by JP Morgan. The US bank has decided to rename its fund management ar...

As part of a global re-branding, the Flemings brand is to be dropped by JP Morgan. The US bank has decided to rename its fund management arm JP Morgan Asset Management to provide "clarity and simplicity". The asset manager has $800 billion of assets under management. The Fleming name was particularly well known in Asia where in 1970 the UK merchant bank and fund manager announced a joint venture with Jardine Matheson. The Fleming family sold to Chase Manhattan in 2000 for £4.9 billion ($9.36 bilion). When Chase later acquired JP Morgan the fund management side of the business became JPMorgan Fleming Asset Management. Asian clients will continue to see the JF logo - the abbreviated name for Jardine Fleming - on some products, according to the bank. The re-branding exercise could open up opportunities in Asia for London-based Fleming Family & Partners which now manages assets worth $4.5 billion from offices in London, Liechtenstein, Moscow and Zurich and is keen to expand its global presence. The re-branding was precipitated by last year's merger with US Bank One at which time the Fleming name was removed in the US. The change will take effect in Asia, the UK and Europe this summer.