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JPMorgan employs former Global X head investment officer as ETF strategist

A street sign for Wall Street is visible in the financial area of New York, U.S., November 8, 2021

March 13 (mod1s) - JPMorgan Chase & Co (JPM.N), opens new tab announced on Wednesday its asset management business has recruited Jon Maier, the former chief investment officer of worldwide X, to oversee a new worldwide research initiative concentrating on exchange-traded funds (ETFs). 

Assets at J.P. Morgan Asset management's ETF division stood at $8.43 trillion by the end of 2023, having increased from $2.02 trillion in 2014 when the bank joined the ETF market, according to TrackInsight.

The launch of actively managed ETFs in 2019 and the 2020 debut of the JPMorgan Equity Premium Income ETF , currently a $33 billion fund, has enabled the bank's asset management business develop more swiftly than some of its much bigger competitors. 

The bank's assets climbed about 50% in 2023, compared to 18% for BlackRock (BLK.N), opens new tab and 25% for Vanguard and State Street Global Advisors, the two main ETF heavyweights, statistics from VettaFi revealed.

"We think ETFs are hitting an inflection point, gaining market share from mutual funds," Bryon Lake, global head of ETF solutions at J.P. Morgan Asset Management, said in an interview. 

In his new capacity, Maier will perform research and publish "ETF Insights" for investing customers.
Maier departed Global X - a specialist ETF provider currently controlled by South Korea's Mirae Asset Financial Group - in December. 

Prior to becoming Global X's first chief investment officer in 2017, he had spent around eight years picking ETFs to include in model portfolios supplied by Merrill Lynch, gaining for himself the title of "Mr. ETF," according to several of his colleagues.

It is the latest notable transfer by a top executive in the ETF market in recent months. 

Late last year, State Street snagged Anna Paglia, former global head of ETFs at Invesco (IVZ.N), opens new tab, to serve in another newly-created job, that of chief business officer. At Invesco, Paglia managed the introduction of more than 100 of that firm's ETFs.


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