JPMorgan Asset Management is the investment management arm of JPMorgan Chase and Company (NYSE: JPM), a global banking and financial services giant. The asset management unit operates on a worldwide scale, employing more than 900 research analysts, market strategists and portfolio managers in 30 countries. It leverages this vast global research network to inform investment decision-making and strategy development across hundreds of investment solutions targeted at institutional and individual investors in more than 130 countries. All told, JPMorgan Asset Management has nearly 20,000 professionals working for its clients around the world. It reported $1.7 billion in assets under management (AUM) as of Dec. 31, 2015.
JPMorgan Asset Management's success in the industry is founded on a rigorous research program, a disciplined investment process, product innovation and a focus on client needs. The firm invests continually in its research programs to maintain and extend capabilities and organizational expertise. It emphasizes cross-border collaboration between investment teams around the world in order to integrate local insights and new ideas across the organization efficiently. Investment teams follow a carefully articulated investment process to maintain operational transparency and enable disciplined management of risk. Further, JPMorgan Asset Management is committed to a partnership with its institutional clients based on open communication in order to ensure client success over the long run.
JPMorgan Asset Management offers a vast menu of investment strategies ranging across all major asset classes, investment styles and geographies. The firm has a menu of more than 400 unique investment solutions targeted at institutional clients, including insurance companies, charitable foundations, central banks, sovereign wealth funds, pension funds and more than 3,000 financial intermediaries. Asset class coverage includes equities, fixed income investments, hedge funds, real asset strategies, private equity solutions and multi-asset class investments. Institutional strategies are typically available through several different investment vehicles, including separate accounts, commingled funds, closed-end funds and open-end funds.
The JPMorgan Asset Management's global pension solutions and advisory group is dedicated to delivering analytical and advisory services and customized investment solutions to public and private pension funds across the globe. The group is staffed with long-tenured pension specialists who leverage the firm's expertise and vast research capabilities to help pension funds measure and manage risk, and develop asset allocation plans matched to long-term goals. JPMorgan Asset Management is one of the world's largest pension plan investment managers, handling investments for more than half of the world's largest pension funds.
JPMorgan Asset Management also offers over 220 investment strategies for retail investors, including mutual funds, 529 plans and exchange-traded funds (ETFs). Its retail menu provides a full range of options across major asset classes. Morningstar has granted 14 of the firm's retail funds five-star ratings, while 52 additional funds have garnered four stars.
Mary Callahan Erdoes has led JPMorgan Chase and Company's asset management unit as its chief executive officer (CEO) since 2009. She joined JPMorgan Chase in 1996 to handle fixed-income operations for high-net-worth individuals (HNWIs) within the company's private banking unit. She later assumed leadership roles in the unit, including turns as CEO and chairman. Erdoes completed her undergraduate degree at Georgetown University before earning an MBA at Harvard Business School. In 2009, shortly after Erdoes assumed leadership of the asset management unit, Forbes magazine named her one of the world's 100 most powerful women.
Bob Michele serves as global chief investment officer (CIO) for JPMorgan Asset Management. He is also head of the global fixed income, currency and commodities group. Michele joined the firm in 2008 after 10 years as a fixed income investor at Schroders, a global asset management firm based in London. Michele completed a bachelor's degree in the classics at the University of Pennsylvania. He holds the chartered financial analyst (CFA) designation.