JPMorgan Asset Management’s $169B ETF business chief exits
Bryon Lake, JPMorgan Asset Management’s global head of ETF solutions, is departing the firm.
Since assuming the role in the US in 2021, the managing director has led the asset manager’s exchange-traded fund effort globally, including creating new products and overseeing the existing line-up.
Previously, Lake was based in Britain, heading up the international ETF business. Lake has been with JPMorgan for over seven years.
A JPMorgan Asset Management spokesperson confirmed his departure. Citywire was first to report the move.
JPMorgan’s exchange-traded fund business now stands at $169 billion in assets with 98 vehicles, according to the asset manager. JPMorgan is home to several of the largest active funds, including the $33 billion JPMorgan Equity Premium Income ETF (ticker JEPI) and the $12 billion JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), which launched in May 2022.
JPMorgan has steadily climbed the ranks to become one of the top 10 biggest ETF issuers, according to data compiled by Bloomberg Intelligence. To date, the firm is home to the biggest active equity ETF and biggest active bond ETF.
“That’s about as hot of a streak as you can get. If you were looking to lead your ETF business, he has to be on a very short list of people you think of,” said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, adding he thinks Lake’s legacy is “low-cost active. He really combined high-quality brand-name active for a more Vanguard-ian fee and that is a powerful combination.”
Lake did not immediately respond to requests for comment. Prior to joining JPMorgan in 2017, Lake spent more than 11 years at Invesco Ltd., according to his LinkedIn page.
Copyright Bloomberg News
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