JP Morgan has hired a former member of its now-defunct proprietary positioning division as a senior researcher at its chief investment office, which the US bank is rebuilding following billion-dollar losses incurred at the unit earlier this year.

Ben Ashby will rejoin JP Morgan in mid-December as the lead researcher for Europe, the Middle East and Africa at the CIO. He will report to Rob O' Rahilly, the new head of Emea at the office.