JP Morgan poaches Fitzpatrick from State Street

State Street’s Ciaran Fitzpatrick is set to join JP Morgan as global head of ETF product management in the securities services division, ETF Stream can reveal.

Fitzpatrick, who will leave State Street at the end of July after nearly two decades at the firm, will be responsible for building out JP Morgan’s product solutions for active and passive ETF issuers, according to an internal memo seen by ETF Stream.

He will also drive the group’s operating model to “deliver margin and scale” for JP Morgan clients.

Based in Dublin, he will report to JP Morgan’s global head of custody Hannah Elson and global head of ETF product Fearghal Woods.

“The ETF market continues to attract a rising share of investor capital and remains a key priority for asset managers across the globe,” the memo from Elson and Woods said.

“As we invest across the entire ETF ecosystem to capture this growing wallet, we are pleased to announce that Ciaran Fitzpatrick will join the firm as global head of ETF product management.”

Fitzpatrick has over 21 years of experience in the funds industry and has spent 17 years at State Street, most recently as managing director, head of ETF solutions Europe.

Prior to this, he spent four years as a senior manager at Investors Bank and Trust.

In a statement, State Street said: “Ciaran has informed us of his intention to leave State Street at the end of July to pursue another opportunity and we wish him well.

“Ciaran leaves behind him an incredibly strong team of experienced ETF specialists backed by a broader, global team of close to 175 ETF service and operations specialists.”

The group added it is “actively” recruiting internally and externally for Fitzparick’s replacement.