Robert Teatom, former head of U.S. fixed income at J.P. Morgan Fleming Asset Management, has retired from the firm after nearly three decades. The money manager sent a letter to clients and consultants last month announcing Teatom’s retirement, according to an individual familiar with the change. Teatom declined to comment.
Seth Bernstein, head of global fixed income for the buy-sider and to whom Teatom reported, says there are no plans to replace Teatom. “We will miss him very much, but we think we have sufficient depth in our group to very successfully cover those areas that he had responsibility for,” he says.
The firm began phasing Teatom out of managerial responsibilities in the late 1990s when it sought to restructure it bond management team but kept Teatom as a high-level portfolio manager, according to the individual familiar with the change. Teatom had been head of fixed income from 1997 to 1998 until Jill Vanhassellwas hired as global head of fixed income. After Vanhassell’s hire, Teatom reported to Vanhassell, according to the individual. Vanhassell has since departed the firm and was replaced by Bernstein in 2002. When Bernstein took over, Teatom ceded some additional managerial responsibilities but remained active in the bond investment processes and in client relations. Carolyn Jones, a spokeswoman for the buy-sider, did not return calls.
