Mike O’Brien likes a challenge. The 50-year-old triathlon nut has completed 15 races in the past four years and has three more coming up. It is a hobby that sets him up well for his role as the most senior figure in the institutional business at the $1.5 trillion JP Morgan Asset Management, where he has high aims.

It has been under O'Brien's tenure at JP Morgan - which began three years ago this month - that various changes have taken place at what, according to industry surveys, is one of the largest managers in the world.