Chris Ratcliffe/Bloomberg
Marko Kolanovic, JPMorgan Chase’s chief global market strategist and co-head of global research, is leaving the bank, according to an internal memo obtained by Bloomberg News.
Kolanovic, who has been at JPMorgan for 19 years, is “exploring other opportunities,” the memo stated. Dubravko Lakos-Bujas will lead market strategy and become chief market strategist, overseeing cross-asset, equity and macro. Hussein Malik will be the sole head of global research.
Stephen Dulake and Nicholas Rosato will co-lead fundamental research, a new team that brings together credit and equity research.
A JPMorgan spokesperson declined to comment. Kolanovic, Lakos-Bujas, Malik, and Rosato didn’t immediately respond to requests for comment. Dulake declined to comment.
The move follows a disastrous two-year stretch of stock-market calls by Kolanovic. He was steadfastly bullish in much of 2022 as the S&P 500 Index sank 19% and strategists across Wall Street lowered their expectations for equities. He then turned bearish just as the market bottomed, missing last year’s 24% surge in the S&P 500 as well as the 14% gain in the first half of this year. — Alexandra Semenova, Bloomberg News
