McDermott will oversee the teams responsible for distribution, relationship management, and the delivery of client solutions, including investment and participant communication and education services. He will be based in New York and will report to David Musto, chief executive officer for Retirement Plan Services.
He also will serve on the executive committee of J.P. Morgan’s retirement business, led by Michael Falcon.
“In this new role, Bill will ensure that all client-facing resources are coordinated to deliver the best insights, tools and solutions, with emphasis on building our critical partnership with the retirement adviser community,” Musto said.
McDermott previously led the defined contribution business at Goldman Sachs Asset Management (see “McDermott to Head Goldman Sachs Institutional DC Unit”). Before that, he developed new distribution channels for annuity and investment products at AXA Equitable (see “AXA Equitable Appoints Fidelity Exec as Head of Corporate Retirement Planning”). He also led business development, relationship management, marketing, communications, and education in the retirement services and benefits administration businesses at Fidelity and Hewitt.