J.P. Morgan Funds nabs Pimco exec

J.P. Morgan Funds nabs Pimco exec
Lee Beck will manage relationships with wirehouse, B-D and insurance broker wealth management firms
MAR 25, 2011
J.P. Morgan Funds has tapped a Pacific Investment Management Co. LLC executive to oversee sales with key third-party distributors. The firm has hired Lee Beck, a former senior vice president with Pimco, to head the global strategic relationship team. In this role, he will be responsible for managing relationships with the largest U.S. wealth management firms among wirehouses, broker-dealers and insurance broker-dealers, according to a person familiar with the situation who asked not to be identified. Kristen Chambers, a J.P. Morgan Funds spokeswoman, confirmed Mr. Beck's hire but declined to comment. Previously, Jed Laskowitz oversaw the responsibilities that Mr. Beck will now oversee. Mr. Laskowitz was promoted to managing director, head of U.S. distribution, in August. His promotion was part of a reorganization of the distribution arm of J.P. Morgan Funds after George Gatch took over as chief executive of the investment management Americas business in July. Mr. Beck will report to Mr. Laskowitz. At Pimco, Mr. Beck was responsible for the firm's relationships with broker-dealer executive and product management teams. Before that, he was head of the registered investment adviser and private-bank business segments for Allianz Global Investors, which he joined in 2000. Calls to the press office at Pimco inquiring about how the firm would replace Mr. Beck weren't returned by press time. He will start at J.P. Morgan on April 18. J.P. Morgan Funds manages $405 billion overall, including money market assets.

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.