J.P. Morgan Asset Management has been selected as the investment manager for New York’s $1.9 billion 529 college savings plan. After completing the extensive request for proposal process, J.P. Morgan said, negotiations will now begin on the details of the seven-year agreement.

“We are thrilled that the state of New York has selected J.P. Morgan for this important assignment, and believe that our relationship with the adviser community, our expertise and broad range of investment products, and our presence in and commitment to New York makes us uniquely positioned to help New Yorkers save for their children’s college education,” said George Gatch, CEO of J.P. Morgan Investment Management Americas.