JPMorgan Chase Announces Expanded Roles for Top Executives
January 25 2024 - 3:00PM
Business Wire
JPMorgan Chase (NYSE: JPM) today announced new and increased
responsibilities for a number of key executives that will build
upon the company’s successes and continue to position the firm for
the future.
- Jennifer Piepszak, Co-Chief Executive Officer of
Consumer and Community Banking (CCB), and Troy Rohrbaugh,
Co-head of Markets and Securities Services, will become Co-CEOs of
the expanded Commercial & Investment Bank, which will bring
together our major wholesale businesses of Global Investment
Banking, Commercial Banking, Corporate Banking as well as Markets,
Securities Services and Global Payments. The company’s investment,
commercial and corporate bankers cover clients of all sizes around
the world ranging from middle market companies to large,
multi-national firms. Combining these efforts will enhance and
deepen the way the company can seamlessly deliver the world’s most
complete set of wholesale banking products and solutions.
- Doug Petno, CEO of the Commercial Bank, will lead an
expanded Commercial Banking business, which will also encompass the
Global Corporate Banking group. These franchises already share an
unwavering commitment to their clients, so this alignment provides
great synergies across the firm’s spectrum of product and service
capabilities.
- Viswas Raghavan, Co-head of Global Investment Banking,
will become sole head of the Global Investment Banking franchise,
while his partner, Jim Casey, has informed the company of his
desire to take on an exciting new role in the firm, which will be
announced shortly.
- Marc Badrichani, Co-head of Markets and Securities
Services, has informed the company of his desire to pursue outside
opportunities. He will work with his senior colleagues in the near
term on transition plans for the Sales and Research group. Marc is
an exceptional business leader, and the company is immensely
grateful for his outstanding efforts.
- Jason Sippel and Pranav Thakur will become
Co-heads of the company’s top-ranked Markets Trading business.
- Tim Fitzgerald will continue to lead Securities
Services, which provides essential post-trade services to
institutional asset-manager clients.
- Takis Georgakopoulos, Head of Global Payments, will
continue to lead that business through its transformation and
growth initiatives – a major strategic imperative for the firm and
a critical service for its largest and most complex wholesale
clients.
- Marianne Lake, Co-CEO of CCB, will become sole CEO of
that business, which is the industry’s premier consumer franchise,
serving over 80 million consumers and six million small businesses
across their financial needs. CCB is comprised of many key
businesses, including Consumer Banking, Credit Card, Small
Business, Home Lending, Auto Finance, and the U.S. Wealth
Management groups.
- Mary Erdoes remains CEO of Asset & Wealth
Management, which continues to deliver top-tier investment
performance and growth with client assets reaching an all-time high
of more than $5 trillion -- and sees compelling opportunities to
grow the company’s first-class Global Private Banking
business.
The company’s firm-wide Operating Committee remains unchanged at
this time.
“JPMorgan Chase is stronger today than it has ever been, and
this is thanks to our hundreds of thousands of employees and our
superb senior management team. I am also particularly blessed to
have an exceptional partner in Daniel Pinto, our President
and Chief Operating Officer,” said Jamie Dimon, Chairman and
Chief Executive Officer. “Daniel and his team have built the finest
Corporate and Investment Bank in the world, and now we can
increasingly take advantage of his extraordinary capabilities
across the firm as we continue to jointly manage the company, with
his focus on the execution of our lines-of-business priorities.
“Looking back on the past two decades, it’s remarkable to see
how our businesses have significantly grown revenue, increased
market share, delivered outstanding products and services to our
customers and expanded into new markets – all while serving our
employees and shareholders and lifting up our communities,” Dimon
added.
The senior management changes and new alignments announced today
will help the company serve clients even better as well further
develop the company’s most senior leaders.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial
services firm based in the United States of America (“U.S.”), with
operations worldwide. JPMorgan Chase had $3.9 trillion in assets
and $328 billion in stockholders’ equity as of December 31, 2023.
The Firm is a leader in investment banking, financial services for
consumers and small businesses, commercial banking, financial
transaction processing and asset management. Under the J.P. Morgan
and Chase brands, the Firm serves millions of customers in the
U.S., and many of the world’s most prominent corporate,
institutional and government clients globally. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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Media Contact: Joseph Evangelisti 212-270-7438
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