Seven JPMorgan Chase Execs Get New Jobs
July 31, 2012 2:47 PM
New Star Rising
Matt Zames, who took over the chief investment office after its massive trading losses came to light this spring, was elevated to co-chief operating officer, in a move that could put him in line to succeed Dimon.
Staying Put
While Dimon may be laying the groundwork for his eventual succession plans, he said last week that he hopes to remain JPMorgan CEO for "many, many years." (Image: Bloomberg News)
Mr. Fix-It
Chief administration officer Frank Bisignano, who has been overhauling the bank's mortgage unit, was named co-COO with Zames. FBR analyst Paul Miller calls Bisignano one of Dimon's problem-solvers.
Changing Bosses
Chief financial officer Doug Braunstein, who previously reported directly to Dimon, will now report to new co-COO Zames.
Moved Upstairs?
Investment banking CEO and onetime heir apparent Jes Staley was moved to chairman of the unit, in a move that appeared to diminish his chances of eventually succeeding Dimon. (Image: Bloomberg News)
Investment Chiefs
Mike Cavanagh, currently the head of JPMorgan's treasury and securities services unit, and Daniel Pinto, currently head of the Europe, Middle East and Africa region and global fixed income, will take over the corporate and investment bank as co-CEOs. (Image: Bloomberg News)
Consumer-Centric
Gordon Smith, who joined JPMorgan in 2007 to run its credit card unit, will become co-head of the entire consumer and community banking unit with Todd Maclin. At the end of 2013, Maclin will become chairman of the unit, giving full CEO responsibilities to Smith.
Steady Wealth
Mary Erdoes, named the seventh most powerful woman in banking last year by American Banker Magazine, will remain CEO of JPMorgan's asset management unit. Douglas Petno will also stay in his role as head of the commercial bank.
