Paul Quinsee, global head of equities, and Bob Michele, global head of fixed income, currency and commodities (GFICC) at J.P. Morgan Asset Management, will expand their current roles to include co-head responsibilities of the Asset Management Investment Committee (AMIC), which reviews new and existing global product offerings at the firm, according to Mary Callahan Erdoes, CEO of the Asset & Wealth Management business at J.P. Morgan.
“Paul and Bob will lead Investment Committee Reviews across our global suite of new and existing product offerings, and in this capacity will report to me in my role as Chair of the AMIC,” Erdoes stated in a memo to employees. “Paul has spent his 27-year tenure with the firm within equities in portfolio manager, client portfolio manager and CIO roles…To ensure a smooth transition, Paul and Bob will partner with Larry Unrein, [Head of the Private Equity Group] whom we thank for his prior leadership of the AMIC,” according to the memo.
The moves come in coordination with the retirement of Chris Willcox, CEO of J.P. Morgan Asset Management, who will step down by year’s end. “During his more than 13 years at the firm, Chris has held a number of senior roles, including Head of Global Rates and Co-Head of Global Rates & FX in the Corporate & Investment Bank and Head of Global Fixed Income & Liquidity in Asset Management (AM), with notable contributions in each,” Erdoes stated in the memo.
“I’ve been particularly impressed with his visionary, strategic mindset and the transformational initiatives he’s accomplished,” Erdoes continued. “Central to that vision is the Simplify for Growth initiative that Chris and the AM Operating Committee launched, focusing on reducing complexity in AM to maintain our excellence in core competencies and invest in areas that will drive long-term growth and help us serve clients better. As well, Chris has long been an active advocate of the firm’s diversity efforts, including serving as the Executive Sponsor of the Asset & Wealth Management (AWM) Black Leadership Forum,” the memo said.
George Gatch, who is currently responsible for global funds and institutional client coverage at J.P. Morgan, will replace Willcox as CEO of the Asset Management division, reporting to Erdoes. “George has delivered solid business results while managing a globally integrated distribution and client service organization throughout his 33-year career at the firm. His deep knowledge of all aspects of the AM business, in addition to his effective management of the AM Clients and the AWM Marketing organization, will enable him to continue to add great value and bring the business to the next level.”