George Gatch will return to the US to take over management of JP Morgan's mutual fund business,

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the New York investment bank announced today. Gatch had been based in Japan as president and CEO of DKB Morgan, a joint venture formed in early 1999 with Dai-Ichi Kangyo Bank.

Prior to the position in Japan, Gatch had been head of US mutual fund marketing. His position had been filled for the last few months by Mary Savino, who has now moved into a position in the institutional sales division.

Morgan now has over $50 billion in its propietary fund family, with a growth rate in 1999 of over 51%. 

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