J.P. Morgan Asset Management Hires Matt Malloy to Build-Out Its Global Insurance Solutions Group

-Industry veteran Matt Malloy to join J.P. Morgan as head of insurance for North America-

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Oct 21, 2010, 04:49 ET

NEW YORK, Oct. 21 /PRNewswire/ -- J.P. Morgan Asset Management today announced its plans to pursue a significant build-out of its Global Insurance Solutions Group, hiring Matt Malloy as head of insurance for North America. Mr. Malloy joins J.P. Morgan from Goldman Sachs Asset Management, where he was a Managing Director in the Global Insurance Group.

Mr. Malloy will expand the firm's existing foundation in insurance asset management in the U.S. and Canada, which is built upon a reputation for excellent fixed income performance and advisory services. He will lead the efforts to deliver J.P. Morgan's broad investment management and advisory capabilities to this growing client base, reporting jointly to Michael O'Brien, Global Head of J.P. Morgan's Institutional Client Group and George Gatch, CEO of J.P. Morgan's Investment Management business in the Americas.

"The insurance market represents a $20 trillion opportunity, with a client base that is increasingly seeking investment management and advisory solutions ," said Mr. O'Brien. "Matt Malloy's industry expertise and relationships make him ideally suited to lead these new efforts in the U.S. and Canada and will give us immediate traction in delivering the vast capabilities of J.P. Morgan."

Prior to Goldman Sachs Asset Management, Mr. Malloy worked in financial institutions investment banking for several years, most recently for UBS Investment Bank, where he helped establish the firm's insurance investment banking practice. He began his career in insurance as an underwriter, working for the Chubb Group of Insurance Companies in a variety of roles. Mr. Malloy has over 18 years of insurance industry experience, including work in North America, Europe, Asia and Latin America. He earned a BA from Washington and Lee University and an MBA from Fuqua School of Business, Duke University.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under supervision of approximately $1.8 trillion and assets under management of $1.3 trillion (as of 9/30/10), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high-net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. JPMorgan Chase & Co. (NYSE: JPM), the parent company of J.P. Morgan Asset Management, is a leading global asset management firm with assets of approximately $2.1 trillion and operations in more than 60 countries. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. Those businesses include, but are not limited to, J.P. Morgan Investment Management Inc., Security Capital Research & Management Incorporated and J.P. Morgan Alternative Asset Management, Inc.

SOURCE J.P. Morgan Asset Management