The chief executive of JP Morgan Asset Management, Chris Willcox, is retiring after 13 years at the firm, according to an internal memo seen by Citywire.
Willcox has decided to take time off from the industry and has been replaced by George Gatch (pictured) as the firm’s CEO of asset management.
Gatch was in charge of JPM’s global funds and institutional client coverage and his new role will report to the CEO of asset and wealth management, Mary Erdoes.
During his time at JPM, Willcox held a number of senior roles, including head of global rates and head of global fixed income and liquidity in asset management.
A JPM veteran of 33 years, Gatch has also held senior positions throughout his career at JPM, including leading the group’s growth efforts in Japan through the fund joint venture between JPM and Dai-Ichi Kangyo Bank.
Earlier this year, it was revealed that JP Morgan was cutting hundreds of jobs across its asset and wealth management divisions as part of an annual review of its staff.
Meanwhile, the internal memo also announced that JPM’s global head of equities Paul Quinsee and global head of fixed income, currency and commodities Bob Michele will become co-heads of the asset management investment committee.
They will jointly lead investment committee reviews across the firm’s global offering. In this capacity, they will report to Erdoes as part of her role as committee chair.
Quinsee and Michele will partner with Larry Unrein, who is relinquishing his leadership of the investment committee.
Source : citywireamericas.com