(Bloomberg) -- J.P. Morgan’s asset-management division promoted James Peagam to head of global insurance solutions, an operation that oversees $78 billion of client funds.

Peagam will be based in New York and report to Jed Laskowitz and Mike O’Brien, co-heads of global investment management solutions, J.P. Morgan said in an e-mailed statement. Peagam takes on some duties previously handled by Matthew Malloy, who also worked with pensions and sovereign wealth funds and departed this year for Neuberger Berman.

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