The head of retirement at J.P. Morgan Asset Management
] is switching jobs.
Our sister publication, 401kWire, broke the news
that JPMAM retirement chief Mike Falcon
will be relocating to Hong Kong to become head of JPMAM's funds business in Asia. There is no official word yet on the timeframe for Falcon's move or on who will lead JPMAM's retirement business when Falcon heads east.
"We'll release more details ... in the coming days," JPMAM spokesman Greg Roth tells MFWire
. "The Asia country heads will report to Michael for all of their responsibilities that relate to their funds businesses."
Falcon will continue to report to George Gatch
, whose duties at JPMAM just expanded
. Gatch now serves as global head of funds and institutional.
Falcon's move also comes after JPMAM sold
its large-market 401(k) recordkeeping business. JPMAM continues to sell its offerings through 401(k) plans recordkept by others (a channel known as defined contribution, i.e. DC I-O), and the firm also offers individual retirement solutions and its own 401(k) product for small employers.
"Retirement remains a vital and strategic priority for J.P. Morgan Asset Management," Falcon states.
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