A senior portfolio manager within JPMorgan's London-based Chief Investment Office (CIO) is set to leave the bank for a position at a hedge fund, according to a report by eFinancial Careers citing unnamed people familiar with the matter.

David Slater, a veteran macro investor with extensive experience across rates, inflation and foreign exchange markets, is understood to have resigned from the US banking group and is currently serving a notice period ahead of his departure. The identity of his new employer has not been disclosed.

Neither Slater nor JPMorgan reportedly commented on the move.

Slater joined JPMorgan Chase in 2019, bringing decades of experience in global macro markets and inflation trading.

Prior to joining the bank, he spent time at Trium Capital and previously served as global head of inflation trading at Bank of America. Earlier roles included senior trading positions at UBS, Nomura and BNP Paribas.

His departure comes at a time when experienced macro and inflation specialists are increasingly sought after by hedge funds as investors navigate an environment characterised by shifting interest-rate expectations, persistent geopolitical risks and uncertainty over the global inflation outlook.

JPMorgan's Chief Investment Office plays a central role in managing the bank's balance sheet, investing excess deposits and overseeing asset-liability management activities in coordination with treasury functions.

Market sources said Slater's responsibilities included investments across global interest-rate and foreign-exchange markets, areas that have experienced heightened volatility in recent years as central banks adjusted monetary policy following the inflation shocks of the early 2020s.

The CIO has attracted significant industry attention over the past decade following the so-called "London Whale" trading losses in 2012, which resulted in more than $6 billion in losses and prompted a major restructuring of the division. Following those events, the bank integrated the CIO more closely with its treasury operations and strengthened risk oversight procedures.

The unit is currently overseen by senior JPMorgan executive Charles Bristow, according to market participants.