JPMorgan Chase & Co. promoted Matt Zames to co-chief operating officer alongside Frank Bisignano as the biggest U.S. bank shakes up its management following a $5.8 billion trading loss.
James "Jes" Staley, who was chief executive officer of JPMorgan's investment bank, was moved out of daily operations and assigned the new position of chairman of the corporate and investment bank, the New York-based firm said today in a statement. Staley, 55, will transition "his current responsibilities to new leaders in the business," JPMorgan said in the statement.
The shuffle moves Staley out of a major operating role while expanding the role of Zames, 41, whom Chief Executive Officer Jamie Dimon, 56, named in May to clean up the chief investment office following the loss. Zames will still be in charge of the CIO, the firm said. Bisignano, 52, who was appointed to run mortgage banking last year, will transition that business to Gordon Smith, who will run the consumer business with Todd Maclin.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
