JPMorgan Announces Expanded Roles For Top Executive

(RTTNews) - JPMorgan Chase (JPM) announced new and increased responsibilities for a number of key executives.

The company noted that Jennifer Piepszak, Co-Chief Executive Officer of Consumer and Community Banking or CCB, and Troy Rohrbaugh, Co-head of Markets and Securities Services, will become Co-CEOs of the expanded Commercial & Investment Bank.

Doug Petno, CEO of the Commercial Bank, will lead an expanded Commercial Banking business, which will also encompass the Global Corporate Banking group.

The company stated that 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.

Jason Sippel and Pranav Thakur will become Co-heads of the company's Markets Trading business.

Tim Fitzgerald will continue to lead Securities Services, which provides essential post-trade services to institutional asset-manager clients.

JPMorgan said Takis Georgakopoulos, Head of Global Payments, will continue to lead that business through its transformation and growth initiatives.

Marianne Lake, Co-CEO of Consumer and Community Banking, will become sole CEO of that business. Consumer and Community Banking 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.

The company's firm-wide Operating Committee remains unchanged at this time.