J.P. Morgan Asset Management CEO vows deeper partnership with NPS

George Gatch, chief executive officer (CEO) of J.P. Morgan Asset Management, said the firm’s strategic partnership with South Korea’s National Pension Service (NPS) would serve as an opportunity to expand cooperation built on a decade of trust.

In a LinkedIn post on Friday, Gatch invoked the Korean concept of “jeong,” describing it as a deep bond that develops over time.

“Ten years in, that’s exactly what we’ve built with Korea’s NPS,” he said.

Gatch said the agreement marked not the beginning of a new relationship but “the next chapter” in an existing one, adding, “The best is yet to come!”

The NPS announced Wednesday that it had signed a memorandum of understanding with J.P. Morgan Asset Management at J.P. Morgan Chase’s headquarters in New York for a strategic partnership covering all asset classes.

J.P. Morgan Asset Management has managed NPS funds under discretionary mandates since 2015.

Gatch said the two sides would exchange views on global markets, macroeconomic trends, asset allocation, portfolio construction, and risk management, while strengthening investment capabilities to support the NPS’s long-term objectives.

He also said the firm plans to open an office in Jeonju, North Jeolla Province, in 2027, underscoring its long-term commitment to the Korean market.