JPMorgan Chase (JPM) has announced changes in responsibilities for several significant executives.
They reported that Jennifer Piepszak, co-CEO of Consumer and Community Banking (CCB), alongside Troy Rohrbaugh, co-head of Markets and Securities Services, will now be co-CEOs of the extended Commercial & Investment Bank.
Doug Petno, CEO of the Commercial Bank, will spearhead an enlarged Commercial Banking enterprise which will now include the Global Corporate Banking Group.
The firm mentioned that Viswas Raghavan, the co-head of Global Investment Banking will become the sole head of the Global Investment Banking sector, while his companion, Jim Casey, has communicated his wish to assume a novel and thrilling role in the firm; the details of which will be revealed shortly.
Marc Badrichani, the co-head of Markets and Securities Services, has indicated his intention to explore avenues outside the organization.
Jason Sippel and Pranav Thakur have been designated as the co-heads of the firm's Markets Trading operation.
Tim Fitzgerald will persist in his role as the leader of Securities Services, which delivers crucial post-trade services to institutional asset-manager clients.
The firm also added that Takis Georgakopoulos, the head of Global Payments, will persist in overseeing this sector during its transformational phase and growth initiatives.
Marianne Lake, the co-CEO of Consumer and Community Banking, will assume the role of the sole CEO of that business. Consumer and Community Banking consists of numerous critical sectors, including Consumer Banking, Credit Card, Small Business, Home Lending, Auto Finance, and U.S. Wealth Management groups.
Meanwhile, Mary Erdoes will continue to serve as the CEO of Asset & Wealth Management.
The firm's institution-wide Operating Committee will remain unaltered at this point.
