The firm said today that Schappert, 51, will serve as new president and CEO for all of its investment advisory companies, which oversee $180 billion in assets. He will be tasked with expanding Federateds asset management business, including bolstering the firms ability to serve financial intermediaries, CEO J. Christopher Donahue said in a statement.
Schappert has worked in the investment business for 28 years, starting with J.P. Morgans trust and investment group in 1973 shortly after graduating from Harvard. Since, he has steadily worked through that firms ranks, most recently serving as president of J.P. Morgan Fleming Asset Management. Before that, he had served as CEO of J.P. Morgan Asset Management Services.