Deals and People June 4, 2012

J.P. Morgan Names McDermott Head of Retirement Plan Sales

June 4, 2012 (PLANSPONSOR.com) - J.P. Morgan Retirement Plan Services hired Bill McDermott in a newly created position as head of Sales and Client Solutions.
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McDermott will oversee the teams responsible for distribution, relationship management, and the delivery of client solutions, including investment and participant communication and education services. He will be based in New York and will report to David Musto, chief executive officer for Retirement Plan Services.  He also will serve on the executive committee of J.P. Morgan’s retirement business, led by Michael Falcon.  

“In this new role, Bill will ensure that all client-facing resources are coordinated to deliver the best insights, tools and solutions, with emphasis on building our critical partnership with the retirement adviser community,” Musto said.   

McDermott previously led the defined contribution business at Goldman Sachs Asset Management (see “Bill McDermott to head Goldman Sachs Institutional DC Biz”). Before that, he developed new distribution channels for annuity and investment products at AXA Equitable (see “AXA Equitable Life Appoints New Head of Corporate Retirement Planning”).   

He also led business development, relationship management, marketing, communications and education in the retirement services and benefits administration businesses at Fidelity and Hewitt.

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