A memo seen on Thursday states that JPMorgan Chase (JPM.N) has overhauled the leadership in its global banking division, appointing new heads in investment banking and capital markets.Â
Banking Under New Organization
Under the leadership of CEOs Filippo Gori and Doug Petno, who were chosen to head the larger business in February, the commercial, corporate, and investment banking groups are combined under the new organization.
They stated in the memo, “Our new GB franchise strengthens connectivity across these teams.”
Kevin Foley was named head of capital markets for the world, responsible for managing the debt and equity capital markets (ECM).
The message states that Achintya Mangla, the bank’s former global head of ECM, is leaving to pursue other possibilities.
Expanding The Size Of Complexity
Jay Horine and Dorothee Blessing will share leadership of the worldwide investment banking coverage.
As head of advice, Anu Aiyengar, who oversees mergers and acquisitions now, will have more duties.
The goal of the new arrangement is to support JPMorgan’s clients as they expand in size and complexity. These adjustments come after the senior executives were reorganized in January of this year.
Jointly heading up global corporate banking will be Bregje de Best and James Roddy, while John Simmons will oversee commercial banking, which includes middle market and commercial real estate. On April 12, JPMorgan will release its first-quarter financial results.
