Andrew Kim is the latest infrastructure executive to leave JP Morgan Asset Management (JPMAM) in the wake of a restructuring of its real assets business, Infrastructure Investor has learned.
Kim, a vice president and principal in the JPMAM Infrastructure Investments Group (IIG), is winding down his career with the financial services provider. A Harvard Business School (HBS) alumnus who joined JP Morgan in 2000, Kim joined IIG in 2007.
Reached in New York, Kim declined comment.
His impending departure is taking place amid considerable turnover in IIG brought on by the appointment of investment banker Paul Ryan to the newly created role of chief executive officer (CEO) of OECD infrastructure equity and debt in March.
The ‘OECD infrastructure equity and debt’ arm is in effect a rebranding of IIG. Under chief executive Ryan, the $8 billion business is being refashioned to capitalise on what the Wall Street firm has predicted will be a growing institutional demand for infrastructure.
The most significant change involved the hiring of Matt LeBlanc as chief investment officer (CIO) of infrastructure equity. LeBlanc, hitherto a principal for fund manager ArcLight Capital Partners, is replacing Jason Zibarras.
Zibarras joined JP Morgan in 2007 from ING Group. As CIO, he led IGG in its $2.7 billion acquisition of Southern Water and its purchase of port terminal operator Dragados SPL, now Noatum.
In 2012, JP Morgan Asset Management tapped Zibarras to publicise its sponsorship of the Chicago Infrastructure Trust (CIT). JP Morgan spokeswoman Kristen Chambers declined to comment on his exit.
In addition to Kim and Zibarras, IIG is parting with managing director Andrew Walters and associate Allyson Goetschius in New York and banker Charles Lecointe in London. In turn, JPMAM has added eight people – including LeBlanc – to its infrastructure business.
Mark Weisdorf, who joined JP Morgan in 2006 and had been CEO of infrastructure, will be managing director of infrastructure equity. Bob Dewing, hired in 2011, is head of infrastructure debt. JPMAM also added London banker Ashley Potter, who is reporting to Dewing.
In March, Joe Azelby, head of global real assets, said JP Morgan sought “to be at forefront of a dramatic shift in asset allocation” favoring infrastructure. Portfolio manager Weisdorf co-authored a recent white paper on infrastructure allocation.