J.P. Morgan & Co. named George C.W. Gatch president of its joint venture with Dai-ichi Kangyo Bank in Japan.

Mr. Gatch, a managing director, had headed the bank's U.S. mutual fund unit. He is relocating to Tokyo and will start work Monday.

Mary Savino, a vice president, succeeds Mr. Gatch in New York; she previously reported to him.

Ms. Savino was in charge of mutual fund distribution to private clients in the United States. That responsibility will be assumed by Clare Herdman.

The executives overseeing distribution of mutual funds to other client bases remain the same. They are Edward Clarke for investment advisers, Robert Deustch for institutions, and David Fermo for investment managers buying J.P. Morgan funds in subadvisory contracts.

The bank's two U.S. proprietary fund families-the retail J.P. Morgan Funds and the J.P. Morgan Institutional Funds-manage $24 billion of assets in 45 funds.

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