JP Morgan Asset Management has launched a new Endowments & Foundations (E&F) Strategic Advisory Group to pursue a significant build out of its endowments & foundations practice.

The new group will focus on the US endowment and foundation market, which represents a $1 trillion opportunity.

JP Morgan appointed Monica Issar as new chief investment advisor for the newly created unit. Issar was most recently a senior investment specialist at JP Morgan Private Bank.

Issar will work closely with Regional Investment Management and Private Banking teams on client coverage, and will lead a team of investment specialists to provide a combination of customized client advisory services and investment strategies, accessing the broad investment capabilities of JP Morgan across all asset classes.

Issar will be based in New York and report jointly to George Gatch, CEO of JP Morgan’s Investment Management Americas division, and Phil Di Iorio, head of Products and Practices for JP Morgan Private Bank.

Gatch said that Monica’s leadership and experience in this space will serve as a catalyst in expanding endowment and foundation footprint across the US.