Peter Cazalet, a senior managing director at JP Morgan Asset Management, has stepped down along with several of his colleagues in UK institutional client service.

Cazalet's departure, confirmed by a JP Morgan spokeswoman, comes after 19 years at the firm, prior to which Cazalet was a managing director at SG Warburg investment bank and director of broking firm Hoare Govett. Cazalet declined to comment, saying he hoped to return to the industry in due course.