JPMorgan’s Marko Kolanovic.
Crystal Mercedes | CNBC
A top rated strategist at JPMorgan who was caught offside by the stock current market rally is quitting the expenditure company.
Marko Kolanovic, who served as chief world markets strategist and co-head of world-wide investigation, is leaving the bank to investigate other opportunities, according to a resource common with the internal announcement.
In his area, Hussein Malik will develop into the sole head of international research, and Dubravko Lakos-Bujas will provide as chief marketplaces strategist.
Kolanovic rose to prominence between sector watchers for accurately predicting a inventory market rebound in the center of the Covid-19 pandemic. But he has been consistently bearish around the earlier two a long time as the current market has achieved new highs.
JPMorgan’s present yr-finish prediction for the S&P 500 is 4,200, whilst no other significant organization in the CNBC Industry Strategist Study is beneath 5,200. JPMorgan’s prediction is formally credited to Lakos-Bujas, who worked less than Kolanovic.
The S&P 500 is up additional than 15% this 12 months and shut previously mentioned 5,500 on Tuesday.
Information of Kolanovic’s departure was to start with noted by Bloomberg Information .
