Several internal candidates at J.P. Morgan Asset Management appear to be among the frontrunners to succeed Catherine Keating as CEO of investment management, Americas.
Ms. Keating announced on Dec. 8 that she will leave the New York-based money manager to become CEO of Commonfund, Wilton, Conn., on Feb. 1.
The internal candidates are said to include John Galateria, CEO of U.S. institutional asset management; Andrea Lisher, CEO of U.S. retail asset management; Kelly Coffey, deputy CEO of the U.S. private bank; and Phil DiIorio, CEO of global wealth management.
Most industry observers interviewed for this story said they believe someone from within the firm is likely to take over Ms. Keating's role. No one provided any likely outside candidates.
“I will bet on an inside pick,” Donald Putnam, a San Francisco-based managing partner of investment bank Grail Partners, said in an e-mailed response to questions.
“They may look outside to benchmark and cover their bases, which is essentially a best practice, but J.P. Morgan has a deep bench and likely has some compelling internal choices as well,” speculated Debra Brown, a managing director in the asset and wealth management practice at recruiter Russell Reynolds Associates, New York.
One source familiar with the matter told Pensions & Investments the business will be managed by Mr. Galateria and Ms. Lisher in the interim.
Ms. Keating, in a news release announcing her appointment, said: “I have long admired (Commonfund's) mission and success over the past four decades. I look forward to joining the team, and working on the needs of endowment and foundation investors.” She declined to comment further.
JPMAM spokeswoman Kristen Chambers declined to comment.