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J.P. Morgan Asset Management hires head of retirement business

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J.P. Morgan Asset Management has hired Michael Falcon as managing director and head of retirement in the US and Canada. 

Falcon will be based in New York and report to George Gatch, chief executive officer of J.P. Morgan Investment Management Americas.

"The retirement industry is poised to enter a period of unprecedented growth and expansion, with defined contribution, individual retirement accounts and after tax retirement savings increasingly generating the bulk of investable assets," says Gatch. "Bringing on someone with Michael’s experience will ensure that we expand our retirement offering to be even more comprehensive, addressing new market realities and the current needs of Americans who are saving for retirement." 

Falcon has 25 years of experience in personal finance, investments, banking and consumer products.  Most recently, he has been managing a financial media and consulting firm founded by NBC’s Today financial editor Jean Chatzky, as well as serving Knowledgent Group and BrightScope.com as a senior adviser. 

Between 2000 and 2008, Falcon was a senior executive in Merrill Lynch’s wealth management business, where he ran the retirement group, providing 401(k), DB, NQDC, IRA, 529, equity award and retirement planning solutions to corporations, individuals and financial advisers. 

He began his career at The Chase Manhattan Bank in 1985 and later spent 11 years with Sara Lee in Chicago, Paris and North Carolina.

"J.P. Morgan is uniquely positioned with all of the necessary components to create holistic retirement offerings that serve everyone including individual investors, employers, plan providers and financial advisers," says Falcon. "Whether we look at investment products and capabilities, wealth management services, retail or corporate banking, there are opportunities to offer a broad range of top-notch products and services to the retirement market."

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