Bryon Lake, JPMorgan Asset Management’s global head of ETF solutions, is departing the firm.
Since assuming the role in the US in 2021, the managing director has led the asset manager’s exchange-traded fund effort globally, including creating new products and overseeing the existing line-up.
Previously, Lake was based in Britain, heading up the international ETF business. Lake has been with JPMorgan for over seven years.
A JPMorgan Asset Management spokesperson confirmed his departure. Citywire was first to report the move.
JPMorgan’s exchange-traded fund business now stands at $169 billion in assets with 98 vehicles, according to the asset manager. JPMorgan is home to several of the largest active funds, including the $33 billion JPMorgan Equity Premium Income ETF (ticker JEPI) and the $12 billion JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), which launched in May 2022.
JPMorgan has steadily climbed the ranks to become one of the top 10 biggest ETF issuers, according to data compiled by Bloomberg Intelligence. To date, the firm is home to the biggest active equity ETF and biggest active bond ETF.
“That’s about as hot of a streak as you can get. If you were looking to lead your ETF business, he has to be on a very short list of people you think of,” said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, adding he thinks Lake’s legacy is “low-cost active. He really combined high-quality brand-name active for a more Vanguard-ian fee and that is a powerful combination.”
Lake did not immediately respond to requests for comment. Prior to joining JPMorgan in 2017, Lake spent more than 11 years at Invesco Ltd., according to his LinkedIn page.
Copyright Bloomberg News
IRAs now hold nearly twice the assets of 401(k) plans — and most of that money didn't arrive through annual contributions.
A new survey finds that many women prioritize financial security but continue to leave savings in accounts that may not keep pace with inflation.
Roundhill, Bitwise and GraniteShares funds remain on hold while the agency weighs how novel ETFs should be regulated.
"Shares of alternative assets managers have lagged this year as investors grow wary of private-credit exposure."
The fintech platform is touting a new AI-free Planning Observations feature, which draws on IRS tax records to uncover opportunities for advisors.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
