is taking on a bigger role at JPMorgan
. The bank appointed Gatch, currently president and CEO of JPMorgan Funds, as head JPMorgan's investment management business in the U.S., InvestmentNews reports
Gatch takes over from his boss Eve Guernsey, who in April
announced her plan
to retire at the end of the year.
Aside from continuing to run the U.S. retail mutual fund business, Gatch will now also head up the U.S. institutional and retirement plan business, according to the report.
Gatch joined JPMorgan Chase in 1986. He established JPMorgan Asset Management's sub-advisory and institutional mutual fund businesses. He had also served as CEO of Japanese fund firm DKB Morgan, a joint venture between JPMorgan and Dai-Ichi Kangyo bank.
Armie Margaret Lee
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