GlobeSt.com obtained an internal announcement from asset management CEO Jes Staley, which said that Lazio will focus on client development and marketing to the firm's investors; strengthening the firm's relationships with governmental and other public officials; advising the firm on public policy issues; and representing asset management at industry events. "Rick's background and relationships, which span both business and government, will provide us with unique insight and access to key clients and help us maintain the business growth we have enjoyed these past few years," Staley says in memo, which was sent to all asset management employees and to all JP Morgan Chase managing directors and SVPs, globally.

Staley says that "we look forwarding to capitalizing on Rick's outstanding experience and knowledge. Rick has been instrumental these past few years in expanding and strengthening JPMorgan Chase's Government Relations group and efforts--significantly improving our communications and bolstering our impact with government officials in the US and around the world."

Lazio will be joining asset management on April 28, and he will continue to work closely with Bill Daley and Jamie Dimon to help select a new head of Government Relations, Staley says. In a GlobeSt.com interview with Lazio in 2002, he clearly showed an interest in real estate. He admitted to a "passion" for multifamily housing. In his years in Washington, he was responsible for a number of major legislative initiatives geared toward encouraging home occupancy and development--with a particular emphasis on affordable housing. He was a cosponsor of the Affordable Housing Improvement Act of 1999, a bill to increase the credit cap from $1.25 to $1.75 per capita. And the Senior Citizens' Housing Financial Restructuring Act of 1998 (HR 3635), which he authored, would guarantee continued affordable housing for more than 260,000 seniors across the country.