J.P. Morgan Asset Management appoints female CEO

J.P. Morgan Asset Management (JPMAM) has announced the appointment of Rachel Farrell as the firm's new chief executive officer (CEO) and country head of global investment management (GIM) Australia.

In this newly-created role, Farrell will oversee all of JPMAM's operations in Australia and will assume direct responsibility for both JPMAM's funds and institutional businesses in the country. She expects to relocate to Australia from Hong Kong early next year and over the coming months will work closely with the teams on the ground during the transition period.

Farrell is currently JPMAM's head of sovereign and institutional, Asia Pacific ex-Japan, a role she was appointed to in 2014.

Before joining JPMAM in 2011, she was head of Asia Pacific investor relations and distribution for Citi Capital Advisors, the alternative asset management division of Citigroup and held a number of senior positions in her 12 years at the firm. She was also head of the Global Discretionary Portfolio Management Team for Bankers Trust Switzerland AG and a member of the Global Investment Committee.

Commenting on her appointment, CEO of Asia Pacific, Michael Falcon said: "I am very pleased to appoint Rachel to this new role as her extensive and well-rounded experience in the financial services industry makes her an ideal candidate. Also, her strong leadership, coupled with an impressive track record with the firm, will further leverage the synergies across all of our businesses and will help drive our continued success in the country."

Farrell will maintain her position as head of sovereign and institutional, Asia Pacific ex-Japan until a successor is appointed in due course.