J.P. Morgan Hires McDermott as Head of Sales

J.P. Morgan Retirement Plan Services has named Bill McDermott head of Sales and Client Solutions, a newly created position. 

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.

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

“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 “McDermott to Head Goldman Sachs Institutional DC Unit”). Before that, he developed new distribution channels for annuity and investment products at AXA Equitable (see “AXA Equitable Appoints Fidelity Exec as 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.

EBSA Schedules More Fiduciary Workshops

 

The Department of Labor’s Employee Benefits Security Administration (EBSA) has announced more workshops for retirement plan fiduciaries.

 

 

A workshop about fiduciary duties and correction programs will be held June 12 in Nashville, Tennessee, and the agency’s “Getting It Right! Know Your Fiduciary Responsibilities” seminar will be held August 14 in Chicago, Illinois.  

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

Topics include:  

  • Understanding your plan and your responsibilities;  
  • Selecting and monitoring service providers;  
  • Making contributions on time;  
  • Avoiding prohibited transactions; and   
  • Making appropriate disclosures to plan participants and filing annual reports to the government on time. 

 More information about the Nashville event is available here.

More information about the Chicago event is available here.

 

 

«