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Rating:JPMorgan-Bank One Combo Set Sights High Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 07, 2004

JPMorgan-Bank One Combo Set Sights High

Reported by Theresa Sim

JPMorgan Fleming Asset Management named Eve Guernsey as chief executive officer of its Americas asset management business, the firm announced on Wednesday.

Guernsey will juggle her old role as chief executive officer of JPMorgan Fleming's institutional Americas business and the new role. She will also sit on the firm's Global Executive Committee.

The new CEO will handle strategy and day-to-day management of all of the Americas asset management businesses, including pensions, defined contribution recordkeeping, mutual funds, and brokerage services. The businesses include JPMorgan Invest, which includes JPMorgan Retirement Plan Services and BrownCo.

Investment managers, as well as Guernsey, will continue to report directly to Bateman.

No other management changes are anticipated as a result of Guernsey's appointment, said Mary Sedarat, JPMorgan Fleming spokeswoman.

Although the companies are in the process of merging their mutual fund businesses and their asset management businesses overall, Sedarat said a name for the fund group had not yet been decided. A decision should come in the next few months, said Sedarat.

Personnel and location changes will result from the merger in the course of this year, but Sedarat declined to comment on them specifically.

JPMorgan becomes the fourth largest mutual fund family post-merger, but it looks like Bateman has set his sights higher: "Our strategic intent is to become the best investment management company in the world," stated Paul Bateman, chief executive officer of JPMorgan Fleming global. 

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