Based in Wilmington, DE

Rick Taormina is the Co-Founder and CEO of Margate Asset Management, bringing nearly three decades of industry-leading experience in municipal and tax-aware fixed income investing. Prior to establishing Margate, Rick served as a Managing Director at JPMorgan from 2005 to 2024, where he led the firm’s Tax Aware Strategies team and was a central member of the Global Macro group within the Global Fixed Income, Currency & Commodities division.

Rick managed municipal ETFs, mutual funds, separate accounts, insurance mandates, and institutional portfolios—consistently delivering top-quartile performance across major categories. He launched JPMorgan’s first municipal ETFs (JMST and JMUB) and holds more #1 Lipper and Morningstar yearly performance rankings in municipal mutual funds and ETFs (1997–2024) than any other JPMorgan manager.

His leadership played a pivotal role in redesigning JPMorgan’s municipal platform—spanning benchmarks, strategy frameworks, and integrated platforms post-merger. Rick collaborated on industry-first initiatives with Bloomberg and major dealers to streamline municipal trade execution through electronic point-and-click platforms.

Rick holds a B.A. in Economics from the University of Delaware, an MBA in Finance from Wilmington College, and is a Certified Financial Planner (CFP).

He has appeared on CNBC, Bloomberg TV, and industry panels, and has been involved in federal-level discussions during major market events, including 2008 and 2020.