J.P. Morgan Asset Management today announced that industry veteran Steve Rubino will assume the title of Head of Retirement and Chair of the firm’s Defined Contribution Operating Committee (DCOC), effective September 14.
Rubino brings nearly 30 years of experience in financial services and fintech, having spent the last two decades driving growth and transformation at the helm of workplace retirement and innovation at Edelman Financial Engines.
As Head of Retirement and DCOC Chair, Rubino will lead J.P. Morgan Asset Management’s $255 billion workplace retirement business, developing and executing the firm’s retirement strategy, managing the group’s distribution teams, and working closely with investment teams on new product development, including retirement income solutions and next generation target date funds.
He will report to Andrea Lisher, Head of Americas, Client, J.P. Morgan Asset Management.
“Retirement is at heart of all we do, and we’re firmly committed to driving stronger retirement outcomes for all Americans. We are uniquely positioned to leverage the scale and reach of JPMorgan Chase to help individuals cross the retirement finish line, and we are thrilled to have someone of Steve’s caliber head up our retirement efforts,” said George Gatch, CEO, J.P. Morgan Asset Management.
“Steve’s deep passion for workplace retirement, his proven distribution leadership and his differentiated fintech experience are highly complementary to our existing strengths and aligned with changing industry dynamics,” Lisher said. “We have exceptional people, solutions and insights dedicated to helping Americans retire with dignity, and I am thrilled to welcome Steve to lead our next leg of growth.”
The firm also announced that Brant Wong will expand his role to lead J.P. Morgan Asset Management’s retirement platform businesses, Everyday 401k and Retirement Link, across product, service and sales as Head of Retirement Platform. Wong will continue to head the firm’s Retirement National Accounts efforts, reporting to Rubino and will join the Americas Client Leadership Team. Wong has been a key member of J.P. Morgan Asset Management’s workplace retirement efforts since its inception and responsible for building many foundational aspects of the business.
The appointment of Rubino and expansion of Wong’s role follows on from the recent appointment of Investment Specialist Daniel Yem to support business and product strategy across the firm’s Defined Contribution business, including product innovation across J.P. Morgan’s target date and retirement income strategies.
Rubino served as Head of Workplace Distribution and Innovation at Edelman Financial Engines, responsible for leading direct sales and distribution partnerships, relationship management, consultant and advisor relations, and innovation efforts. In this role, he became a key member of the executive leadership team that grew EFE from a startup to the largest independent Registered Investment Advisor (RIA) in America with over $240 billion in AUM.
Prior to this, he was Head of Distribution and Institutional Services at EFE, leading the overall institutional business. While at EFE, Steve founded the Edelman Financial Engines Client Advisory Council, a board of senior executives representing the largest companies in the U.S. He also helped bring to market retirement income solutions deployed by hundreds of leading employers.
Rubino is a member of the American Benefits Council’s Retirement Income Task Force and Defined Contribution Institutional Investment Association.
SEE ALSO:
• Daniel Yem Joins J.P. Morgan Asset Management to Bolster Retirement Income Capabilities
• How 401ks Should Respond to New (and Coming) Market Realities: J.P. Morgan
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
