The firm said Patterson starts her new role on 16 July and will report to Stern.

Her responsibilities as CIO will involve working with Bessemer’s investment team on all aspects of investment management, including asset allocation, strategic portfolio direction and research.

Patterson was formerly chief markets strategist at JP Morgan Asset Management. In that role, she also headed the global client advisory group and was a member of the private bank’s investment committee, having previously served as global head of currencies and commodities.

Bessemer Trust was established in 1907 and oversees $65 billion in assets.