J.P. Morgan Asset Management Bolsters Retirement Income Capabilities with Hire of Daniel Yem as Senior Investment Specialist

Rhea-AI Summary

J.P. Morgan Asset Management has appointed Daniel Yem as a Senior Investment Specialist to enhance its Retirement Solutions team. Based in New York, Yem will focus on Defined Contribution business and product strategy, including innovations in target date and retirement income strategies. The firm, managing $335 billion in Multi-Asset Solutions, aims to leverage spending data to develop retirement income solutions. Over $6 billion in client assets are currently invested in these strategies, reflecting a strong market position.

Positive

• Appointment of Daniel Yem as a Senior Investment Specialist will enhance retirement income capabilities.
• J.P. Morgan manages $335 billion in Multi-Asset Solutions, showcasing strong asset management.
• Over $6 billion in client assets are invested in retirement income, indicating solid market interest.

Negative

• None.

-Mr. Yem joins J.P. Morgan from BlackRock to support Defined Contribution business-

NEW YORK, June 27, 2022 /PRNewswire/ -- J.P. Morgan Asset Management today announced the hire of Daniel Yem as a Senior Investment Specialist to support the firm's Retirement Solutions team. Mr. Yem will be based in New York and reports to Daniel Oldroyd, Head of Target Date Strategies, sitting within the firm's $335Bn¹ Multi-Asset Solutions team.

Mr. Yem will be responsible for business & product strategy across the firm's Defined Contribution business, including product innovation across J.P. Morgan's target date and retirement income strategies.

Retirement income continues to be a focus for J.P. Morgan Asset Management, as demonstrated by the recent launch of new retirement spending capabilities to complement the firm's SmartRetirement Plus solution announced in 2021, pairing J.P. Morgan Asset Management's SmartRetirement with a protected lifetime income option, AIG Life & Retirement's IncomEdge Control annuity issued by The Variable Annuity Life Insurance Company². More than $6 billion of client assets are currently invested in retirement income assets within SmartRetirement.   

"By leveraging real-world spending data across JPMorgan Chase, combined with our market-leading research and insights into retirement saving and spending behaviors, we have a unique ability to deliver retirement income solutions to our clients. We are thrilled Daniel has joined the team to accelerate our efforts in the space," said Andrea Lisher, Head of Americas, Client, J.P. Morgan Asset Management.

"Daniel brings specialized experience that will further enhance our retirement capabilities to not only support investors in building adequate retirement savings during their working years, but also to help them spending down in retirement," said Daniel Oldroyd, Head of Target Date Strategies at J.P. Morgan Asset Management.

Mr. Yem joins J.P. Morgan Asset Management from BlackRock, where he served as Head of Product Innovation within the firm's Retirement Group, responsible for defining and driving the product agenda for the U.S. defined contribution business. Prior to his time at BlackRock, he served as Defined Contribution Product Manager at AllianceBernstein where he was responsible for managing their suite of lifetime income strategies and custom target-date funds. Mr. Yem earned a BS in finance from Northeastern University. He is a CFA charter holder.

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of $2.6 trillion (as of 3/31/2022), is a global leader in investment management. J.P. Morgan Asset Management's investors 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.

J.P. Morgan Asset Management is the marketing name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $4.0 trillion in assets and $285.9 billion in stockholders' equity as of March 31, 2022. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S. and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com

¹ Assets Under Supervision as of 3/31/22
² The IncomEdge Control annuity is a fixed annuity issued by The Variable Annuity Life Insurance Company (VALIC), Houston TX. Policy form #VG-224 (7/21). VALIC is responsible for financial obligations of its protected lifetime income products, and guarantees are backed by the claims-paying ability of VALIC, a subsidiary of American International Group, Inc, (AIG).

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SOURCE J.P. Morgan Asset Management

FAQ

Who is Daniel Yem and why was he hired by JPM?

Daniel Yem was hired by JPM as a Senior Investment Specialist to improve its Defined Contribution business and retirement solutions.

What are J.P. Morgan's retirement income strategies?

J.P. Morgan's retirement income strategies include target date funds and innovative spending capabilities for clients.

How much does J.P. Morgan manage in Multi-Asset Solutions?

J.P. Morgan manages $335 billion in Multi-Asset Solutions.

What is the current investment in retirement income assets at J.P. Morgan?

More than $6 billion of client assets are invested in retirement income assets within J.P. Morgan's solutions.

What prior experience does Daniel Yem have before joining JPM?

Before joining JPM, Daniel Yem was Head of Product Innovation at BlackRock and Defined Contribution Product Manager at AllianceBernstein.