J.P. Morgan Funds nabs Pimco exec

J.P. Morgan Funds has tapped a Pacific Investment Management Co. LLC executive to oversee sales with key third-party distributors. The firm has hired Lee Beck, a former senior vice president with Pimco, to head the global strategic relationship team. In this role, he will be responsible for managing relationships with the largest U.S. wealth management firms among wirehouses, broker-dealers and insurance broker-dealers, according to a person familiar with the situation who asked not to be identified. Kristen Chambers, a J.P. Morgan Funds spokeswoman, confirmed Mr. Beck's hire but declined to comment. Previously, Jed Laskowitz oversaw the responsibilities that Mr. Beck will now oversee. Mr. Laskowitz was promoted to managing director, head of U.S. distribution, in August. His promotion was part of a reorganization of the distribution arm of J.P. Morgan Funds after George Gatch took over as chief executive of the investment management Americas business in July. Mr. Beck will report to Mr. Laskowitz. At Pimco, Mr. Beck was responsible for the firm's relationships with broker-dealer executive and product management teams. Before that, he was head of the registered investment adviser and private-bank business segments for Allianz Global Investors, which he joined in 2000. Calls to the press office at Pimco inquiring about how the firm would replace Mr. Beck weren't returned by press time. He will start at J.P. Morgan on April 18. J.P. Morgan Funds manages $405 billion overall, including money market assets.