Musto Hands JPAM DCIS Reins to Galateria
An internal memo from David Musto, managing director, COO, Retirement Plan Services, said Galateria will oversee JPAM’s DCIS intermediary, platform, and plan sponsor sales teams as Musto focuses on his new role as COO for Retirement Plan Services. Musto was previously the head of the DCIS group (see “J.P. Morgan Asset Management Realigns DCIO Teams“).
Galateria will also participate in efforts across IMA businesses to advance DC-focused product set and thought leadership. “With more than $3 trillion in DC assets forecasted to change hands due to new manager searches and participant activity over the next five years, succeeding in the investment-only DC business will continue to be a critical component of our retirement strategy,” Musto said in the memo.
According to Musto, Galateria joins JPAM from T. Rowe Price where he recently led distribution for its Retirement Plan Services business. Earlier in his career, he also worked at Great-West Retirement.
Galateria will report directly to Michael Falcon, head of Retirement for J.P. Morgan Asset Management (see “Falcon Named JPAM Retirement Chief“). Glenn Dial, Heidi Walsh, and Brant Wong will report to Galateria (see “Walsh Jumps to J.P. Morgan Asset Management“).
Galateria will replace Musto on the Funds Management Operating Committee and the Institutional Segment Management Team.
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