J.P. Morgan Asset Management (JPMAM) has hired Stefan Lummert as head of its insurance advisory team for Germany and Austria.
Lummert joins from NN Investment Partners where he was head of insurance asset management for Germany. Netherlands-based NN Investment Partners is the asset manager for insurer NN Group, previously known as ING.
Prior to this, Lummert spent 11 years with Allianz Investment Management in a variety of leadership roles.
Lummert will be responsible for developing and maintaining relationships with insurance companies in Germany and Austria, and providing appropriate investment solutions. He will work alongside JPMAM's institutional team in Frankfurt
James Peagam, head of global insurance solutions, said: "We're delighted to have Stefan join us. This appointment further supports our growth in the sector and underlines our commitment to the industry, recognising the importance of insurers as distinct investors in global markets."
JPMAM's global insurance solutions team manages $78.8bn of assets, as of the 2014 year-end.