MONEY MANAGEMENT

JPMAM appoints CEO of North American institutional business

James Peagam was named head of North American institutional asset management at J.P. Morgan Asset Management (JPM), company spokesman Matthew Chisum said.

He replaces John Galateria, who left the company last fall to join Invesco (IVZ) as head of North America institutional sales, service and consultant relations.

Mr. Peagam will be responsible for overseeing institutional distribution strategy, sales and client services.

He was global head of insurance solutions at JPMAM, and will retain these responsibilities in his new role.

He will remain based in the firm’s New York headquarters and will now report to George Gatch, CEO of global funds and institutional, J.P. Morgan Asset Management.

J.P. Morgan Asset Management had $1.8 trillion in assets under management as of Dec. 31.