J.P. Morgan & Co. of New York has hired a fixed-income portfolio manager from Goldman, Sachs & Co. to head one of its investment strategy teams.

Benjamin Thompson, 30, heads the municipal bond strategy team. The position is a new one, a spokeswoman said.

Mr. Thompson, who started Monday, is also a vice president and senior fixed-income portfolio manager.

J.P. Morgan's investment management arm has $321 billion of assets under management.

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