Federated Investments has hired Keith Schappert, a longtime J.P. Morgan executive, to lead its investment management operations.
The firm said that Schappert will serve as president and CEO of all of its investment advisory companies, which oversee $180 billion in assets. He will be tasked with expanding Federated's asset management business, including bolstering the firm's 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. Morgan's trust and investment group in 1973. Since, he has steadily worked through that firm's 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.