JPMorgan’s Kolanovic to Exit Amid String of Poor Stock Calls

Marko Kolanovic, JPMorgan Chase & Co.’s chief 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, the firm’s chief equity strategist, will become chief market strategist. Co-head of global research 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, Dulake and Rosato didn’t immediately respond to requests for comment.

The move follows a disastrous two-year stretch of stock-market calls by Kolanovic.