JPMorgan Asset Management has seen another wave of departures from its global real assets group, with four executives leaving or planning to leave the firm.
The executives – executive directors Adam Pillay and Claudius Weissbarth and vice presidents Jennifer Ciullo and Michael Winiarski – are or were part of the client strategy team within the GRA group.
All of the executives had joined JPMAM, the asset management business of New York-based financial services company JPMorgan, within the past three years. Ciullo, based in New York, had the longest tenure, starting at the firm in 2013 as part of the management associate program before becoming a member of the market and client relations division that supported the firm’s Asia-Pacific real estate business. Most recently, she was responsible for capital raising and client advisory services for JPMAM’s Americas real estate platform.
Pillay, also based in New York, joined in April 2015 as an Asia-Pacific platform specialist in real estate. In his role, he was in charge of advising institutional investors on real estate investing in the region. He previously was vice president at The CIM Group from September 2013 to April 2015, according to his LinkedIn profile.
Weissbarth, another 2015 recruit, was based in London and worked with the firm’s European clients. Prior to JPMAM, he was director of business development at BlackRock Real Estate from December 2012 to November 2015. Winiarski was at JPMAM for less than a year, joining as vice president in April 2016. Based in Los Angeles, he was an Americas real assets platform specialist.
The departures are the latest staffing changes with the GRA group. Much of the turnover has been concentrated with the client strategy team, which saw the exits of multiple executives last year, including global head of business development and client strategy Douglas Doughty and Michael Duignan, executive director of marketing and client management and an 18-year company veteran.
However, the group has also seen significant departures in other areas over the past year. Two of its top US acquisitions executives, Hilary Spann and Chris Graham, left last year to join the Canada Pension Plan Investment Board and Blackstone, respectively. Most significantly, Joe Azelby, managing director and chief executive of the GRA group, is retiring after 30 years at the firm, PERE reported in November. He is understood to be leaving the firm this month, and his role will not be replaced.
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