It is unclear if this is a new role or if he replaces anyone.

Bailey was formerly national sales director at BlackRock, responsible for the distribution of BlackRock mutual funds, iShares ETFs and other investments through its Merrill Lynch division.

In his new role, Bailey will oversee two divisional managers and 25 client advisors who work with wealth management firms across the country, such as Merrill Lynch, Morgan Stanley, UBS and Wells PCG.

"Wealth managers are very important partners for us in delivering investment solutions to end investors," said Andrea Lisher, head of JP Morgan's US funds business.