JPMorgan Worldwide Securities Services has named Edward Mollahan as employee benefit investment executive, a new position designed to help private and public institutions address growing requirements for benefit plan investment administration.
Mollahan will serve as a spokesperson on employee benefit investment administration industry issues, participate in key industry organizations and help lead business development efforts. In addition, he will assist in the creation of new products and services for the administration of defined benefit, defined contribution and health and welfare plans. He currently serves on the U.S. Department of Labor’s Employee Retirement Income Security Act (ERISA) Advisory Council on Employee Welfare and Pension Benefit Plans.
“Employers are grappling with how to provide competitive, yet affordable retirement and benefit plans to their employees,” said Mark Kelley, head of JPMorgan’s U.S. Fund Services business. “In this new position, Ed Mollahan will help us expand fund services offerings and assist our clients in meeting the challenging demands of employee benefit administration.”
JPMorgan has more than $3.3 trillion in assets under management for corporate pensions, public pensions, endowments and foundations, insurance companies, mutual funds, banks and unions. Accounting is performed for 15,000 portfolios globally and more than 30 million securities transactions are processed a year.
“JPMorgan has built a strong presence in the pension and investment community over the past 50 years, and has one of the broadest sets of products and services for corporations, endowments and foundations and government entities,” Mollahan said. “We will be reaching out to our clients, industry leaders and influencers to discuss what policies, strategies and services they feel still need to be addressed.”
Mollahan joined JPMorgan in 1982 and has held various positions in pensions-related areas including performance measurements, accounting and client services, reaching senior vice president in 2001. He holds a Bachelor’s of Science in Business Administration from Wilkes University, PA and attended the Executive Education Program at the University of Pennsylvania Wharton School. He is a Chartered Pension Investment Professional and is affiliated with several industry associations, including the International Securities Dealers Association (ISDA), the International Foundation of Employee Benefit Plans (IFEBP), the American Bankers Association (ABA), and the Private Equity Industry Guidelines Group (PEIGG).