JP Morgan Asset Management has appointed Simon Crinage as its new head of investment trust business, with immediate effect. Crinage, who will report to Jasper Berens, head of UK funds management, replaces David Barron, who left the firm earlier this year.

"Investment trusts have always been popular with both private investors and the discretionary wealth management community. The regulatory landscape changes caused by the implementation of RDR should also open up opportunities for the sector to reach the independent financial advice market, where it has historically been under-represented," Crinage said in a statement.

Crinage has been with JP Morgan Asset Management for 28 years, more than 10 of which have been within the investment trust team.