JP Morgan Asset Management has hired Michael Falcon as new managing director and head of Retirement business in the US and Canada.

In this role, Falcon will be based in New York at the firm’s headquarters and will report to George Gatch, CEO of JP Morgan Investment Management Americas.

Falcon has 25 years of experience in personal finance, investments, banking and consumer products. Most recently, he has been managing a financial media and consulting firm founded by NBC’s Today financial editor Jean Chatzky, as well as serving Knowledgent Group and as a senior advisor.

Between 2000 and 2008, he was a senior executive in Merrill Lynch’s Wealth Management business.

Gatch said that the retirement industry is poised to enter a period of unprecedented growth and expansion, with defined contribution, individual retirement accounts and after tax retirement savings increasingly generating the bulk of investable assets.

"Bringing on someone with Michael’s experience will ensure that we expand our retirement offering to be even more comprehensive, addressing new market realities and the current needs of Americans who are saving for retirement," Gatch said.