J.P. Morgan Asset Management has launched a multi-asset unit headed by Seth Bernstein, who will oversee the new effort as Global Head of Asset Management Solutions, reporting to Mary Erdoes, CEO of J.P. Morgan Asset Management, according to an internal memo.
The firm’s Global Multi-Asset Group and Institutional Strategy Group from its Investment Management division will be part of the new Asset Management Solutions unit as part of the launch. Also, the Global Access Portfolios group and J.P. Morgan Advisory Program unit from J.P. Morgan’s Global Wealth Management division, will also be part of Asset Management Solutions.
While each of these groups will come together under Bernstein’s purview, they will also remain and operate as part of the Global Wealth Management and Investment Management businesses, respectively, according to the memo.
Bernstein, who previously led Investment Management’s Global Fixed Income and Currency business, will be succeeded by Chris Willcox, reporting to Erdoes.