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JP Morgan axes Fleming brand across Europe

JP Morgan is to drop its Fleming brand across Europe, becoming JP Morgan Asset Management as it aligns the UK arm with changes already made in America.

The Fleming name has been gradually downplayed since the sale of the firm to Chase Manhattan in August 2000 for 4.9bn and this change has been triggered by last year’s merger with Bank One. The loss of the Fleming brand follows the axing of Save + Prosper which was scrapped from the retail fund range in April 2001.

The Fleming brand has existed since 1873 when Robert Fleming set up a fund management company in Edinburgh.

A JP Morgan spokesman says it took longer for the rebranding to take place in Europe because of the time taken to register it with regulatory authorities.

All fund names will be changed by the end of the year apart from investment trusts where it will be up to each individual trust’s board to make the decision on whether to rebrand.

A JP Morgan spokesman says the change was req- uired for simplicity and clar- ity, creating a single identity for clients.

JP Morgan Asset Manage-ment head of Europe James Broderick says: “The change to JP Morgan Asset Manage-ment simplifies our name in the marketplace and communicates a powerful and cohesive set of global investment capabilities. Our clients have a great deal of confidence in our business as it stands today and see the change as logi- cal and appropriate. They have been very supportive of the change.”

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