JPMorgan Asset Management has named George Gatch, currently CEO of its mutual funds business, as the new head of investment management services for the U.S. and Canada. He is effectively replacing Eve Guernsey, who is retiring, the firm confirmed Monday.

According to an internal announcement, Gatch will retain his current role with JPMorgan Mutual Funds and assume the additional duties previously held by Guernsey. In an e-mail to sister publication Investment Management Weekly, the firm said Gatch "will now also be responsible for both the U.S. institutional and [Retirement Plan Services] business."

The announcement added that over the next few months, "Eve will work with George as he transitions fully into his expanded role."

In 1977, Guernsey first joined the financial services goliath. Currently, she is responsible for all business, and management facets of the money management arm. With his recent promotion, Gatch, a 24-year veteran, will report directly to Clive Brown, the CEO Investment Management International at JPMorgan, the internal memo said.

"The intention is to increasingly run the [Investment Management] global business utilizing a regional governance model that is overseen, supplemented and supported by an [Investment Management] Operating Committee from a business and oversight perspective and by the asset management investment committee from an investment perspective," the correspondence stated.

Currently, JPMorgan Asset Management has $1.2 trillion in assets under management for it institutional, high-net-worth and retail clients, its website said.


Enforcement Chief Counsel McKown Leaving the SEC

The Securities and Exchange Commission announced Wednesday that Joan McKown, the chief counsel of its division of enforcement, has resigned. McKown, who worked for the SEC for 24 years, will become a partner at Washington law firm Jones Day.

McKown joined the SEC in 1986 as a staff attorney in the office of the general counsel. She moved to the enforcement division in 1987 and served in multiple positions, including branch chief and assistant director, before being named chief counsel in 1993.

As chief counsel, she counseled SEC Commissioners about enforcement policies and practices, spearheaded the implementation of enforcement-related portions of the Sarbanes-Oxley Act of 2002, and was involved in settlement negotiations of hundreds of SEC enforcement cases.

Before joining the SEC, McKown was an attorney at the U.S. Small Business Administration from 1983 to 1986.


SEC CIO's 2nd Career To Become Church Deacon

Charles Boucher is leaving his post as chief information officer of the Securities and Exchange Commission, after only 19 months.

Boucher intends to pursue not-for-profit work and complete studies to be ordained as a deacon in church, the SEC said, in a statement. The decision to leave was Boucher's, the statement said.

The SEC did not immediately indicate what the selection process or timing for finding a successor will be. Boucher's last day on the job is Friday, July 16.

Boucher had served as CIO since December 2008, managing all of the SEC's information technology programs and systems including application development, infrastructure operations, enterprise architecture, security, and user support.

He served as CIO as the credit crisis gained steam-as did the Ponzi-schemed scandal involving Bernard Madoff, now jailed. Boucher in March said that the Office of Information Technology's most important initiative following the financial crisis and Madoff scandal woud be how it handles complaints coming into the agency.

"We get thousands of tips and complaints," he told Securities Technology Monitor (formerly Securities Industry News). "In the past, sharing [of these at the SEC] was not as organized as it could have been."

"Charlie has played an important role in building a platform to implement our new system for reviewing complaints, tips and investigative leads provided by whistleblowers or other sources," said SEC Chairman Mary L. Schapiro.

Boucher also made converting financial statements into "interactive data'' through the use of the eXtensible Business Reporting Language a priority.

The agency is working to "get information to be a lot more structured. Part of EDGAR is to simplify forms and schedules that people file with us,'" he said.

Boucher and his staff in the Office of Information Technology work with the agency's divisions and offices to incorporate technology into all SEC programs to serve investors, maintain orderly markets, and promote capital formation. OIT operates the EDGAR system, which provides investors with access to millions of public company financial statements and other corporate filings. Before coming to the SEC, Boucher was an executive director at Morgan Stanley, and prior to that served as senior vice president and chief information officer of Standard & Poor's.


Kordes Exits UBS

Mark H. Kordes, who had led wealth planning services in the U.S. for UBS, left the firm last week, company officials confirmed Tuesday. Kordes had worked for the Zurich-based bank for six years, before Bob McCann, the current chief executive officer of UBS Wealth Management, joined last October.Kordes had raised his profile in the industry, and recently became chairman of the Certified Financial Planner Board of Standards' council on education. Previously, Kordes was a financial advisor at Merrill Lynch, and at Dallas-based 1st Global Capital Corp.



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