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JPMAM Australia chief to retire

After more than a decade with the business, J.P. Morgan Asset Management's local chief executive Rachel Farrell is set to retire later this year.

Farrell first joined JPMAM in Singapore in 2011 as head of sovereign and institutional clients, South and South East Asia, Australian and New Zealand. She then took on the same role for the Asia Pacific region, based in Hong Kong.

Farrell relocated to Sydney when she was appointed to lead the local business in November 2016; the first chief executive and country head appointed for Australia.

In an interview with Financial Standard in 2017, Farrell described the Australian market as "very sophisticated".

"You have to make sure what you bring to market here is really the best - you'd always want to do that but the market here is very discerning," she said.

Farrell will continue in the role for the coming months, while JPMAM undertakes an executive search for her replacement.

Her departure will have no impact on clients' investment strategies, a spokesperson for JPMAM said, adding that the investment giant remains fully committed to growing the Australian business.

"We would like to thank Rachel for her leadership and contributions, including helping to significantly grow our Australia business," the spokesperson said.

"We wish her the best in the future."

Farrell has over 30 years' experience in financial services both in Australia and abroad.

Prior to joining JPMAM, Farrell served as head of investor relations and distribution, Asia Pacific at Citi Alternative Investments in Singapore. She was also head of alternatives distribution, EMEA at Citigroup Private Bank and held senior roles at Bankers Trust.

Read more: J.P. Morgan Asset ManagementRachel FarrellBankers TrustCiti Alternative InvestmentsCitigroup Private BankFinancial StandardJPMAM Australia