just tripled the size of J.P. Morgan's
] ETF sales force.
| Robert Deutsch|
Managing Director, Head of Global ETFs
"We recently completed the next step of our distribution buildout," says Deutsch, global head of ETF solutions. "We're now considering our next step ... It may or may not including more hiring in the near-term."
Prior to the fall, Deutsch's team included two external wholesalers and one internal wholesaler. He started expanding the sales team in the fall, and now he has ten sales people in total: six externals, three internals, and one distribution chief, Jill Delsignore
. Overall, his ETF solutions unit has more than 20 people.
"We're well-positioned to build out the products," Deutsch tells MFWire
. "We just launched two new funds last week, bringing our total to seven in our smart beta suite ... We're on track to launch six to eight more this year."
Meanwhile, J.P. Morgan is also taking
a passive, minority stake in another ETF shop, Global X. Yet J.P. Morgan's own ETF business will remain separate from Global, and the bank insists that the Global X deal "will have no impact on how J.P. Morgan ETF Solutions and Global X operate their respective businesses". They will be doing "no co-marketing, investment management, distribution agreements share governance."
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