JPMorgan to Expand Asset Management in Canada with Job Increase

JPMorgan's asset management division in Canada plans to add up to 20 jobs over the next 18 months. The bank launched two new exchange-traded funds and is focusing on actively managed ETFs for Canadian investors. Expansion efforts will primarily focus on Toronto, with additional positions in Montreal, Vancouver, and Calgary.

JPMorgan is set to expand its asset management business in Canada, creating up to 20 new jobs over the next 18 months, according to a senior executive of the bank.

The company launched two actively managed exchange-traded funds aimed at income-focused investors, marking its first offering of (ETF) strategies for individual Canadian investors.

Travis Hughes, head of J.P. Morgan Asset Management's Canadian division, emphasized that future launches will focus solely on actively managed ETFs, excluding mutual funds and other products.

While Toronto is the primary hub for this expansion, new roles ranging from analysts to directors will also be added in Montreal, Vancouver, and Calgary. The bank also plans to recruit from Canadian universities.

Hughes stressed the importance of diversifying assets with downside protection in light of economic uncertainty and the upcoming U.S. elections. Notably, Canada represents $40 billion of JPMorgan Asset Management's $3.3 trillion global investments.

(With inputs from agencies.)