JPMorgan's top London portfolio manager left for a hedge fund

5 June 2026

2 minute read

David Slater, a key portfolio manager in JPMorgan's London chief investment office (CIO) has left the bank. It's understood that Slater is joining a hedge fund but we do not know which one.

💥Follow us on WhatsApp for news alerts.💥

Slater didn't respond to a request to comment for this article. JPMorgan declined to comment. Multiple JPMorgan insiders confirmed Slater's move. It's thought that he's still employed by the bank and is working out a notice period.

Slater is not well known outside of the macro trading community, but within the community he is a big deal. Before joining JPMorgan in 2019, Slater spent two years at hedge fund Trium Capital. Before that, he was global head of inflation trading at Bank of America. He's also worked for UBS, Nomura and BNP Paribas and is one of London's most experienced macro traders.

That helps in the current environment, when the macro outlook is unclear and inflation traders everywhere are suddenly in demand.

JPMorgan's CIO invests the banks' deposits and also includes matches assets and liabilities as part of treasury management. Slater is understood to have invested across international rates and FX there.

The CIO office at JPMorgan was behind the infamous London Whale trades which generated $6bn of losses in 2012. Following those losses, the office was restructured to combine the CIO with the treasury team. It's thought that Charles Bristow, JPMorgan's former head of rates trading, currently runs the CIO office. He is presumably looking for Slater's replacement.

Follow me on X. Follow me on LinkedIn.

Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.

Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.