Paul Zemsky, cio of macro-fixed income products at J.P. Morgan Fleming Asset Management in New York, has recently resigned, reportedly to launch a macro fixed-income hedge fund with former J.P. Morgan bond portfolio manager Donna Lloyd, said an individual with knowledge of the situation. Repeated calls to Zemsky's residence were not returned. Patricia Cook, J.P. Morgan Fleming's global cio of fixed-income, declined to comment. Gabriel Gagliardo, spokeswoman for J.P. Morgan, did not return calls seeking comment.