JPMorgan corporate and investment bank chief recasts exec team
NEW YORK (Reuters) - Daniel Pinto, who two weeks ago became sole head of corporate and investment banking at JPMorgan Chase & Co (JPM.N: Quote), on Monday announced a new lineup for his executive team which raises the profiles of several individuals.
Carlos Hernandez, 52, who formerly headed services for institutional investors, will become co-head of global banking alongside Jeff Urwin, Pinto said in a memo to employees. The two will manage corporate banking, treasury services and investment banking worldwide.
Jeff Bosland, who had been a marketing chief and former public finance head, will become head of treasury services and will report to Hernandez and Urwin.
John Horner will succeed Hernandez as head of investor services. Horner has been over the financing business within the markets and investor Services unit.
The moves follow a March 25 announcement that Mike Cavanagh, who was co-CEO with Pinto of corporate and investment banking, was leaving the company to join private equity firm Carlyle Group LP. Also, late last year Don McCree, who headed treasury services and corporate banking, decided to leave JPMorgan after 30 years at the bank. McCree, 52, will shift his duties to Hernandez and Urwin over the next few months, the memo said.
Pinto also said that Joyce Chang will become global head of research, succeeding Tom Schmidt, who decided earlier this year that he wanted a new job. Chang previously led both global fixed income and merging markets research teams.
At the same time, Pinto realigned fixed-income executives in the markets business. James Kenny and Troy Rohrbaugh will be co-heads of global rates, commodities and emerging markets. That move follows the announcement last week that commodities chief Blythe Masters would leave the company following its sale of its physical commodities business.
Guy America and Matt Cherwin will be co-heads of global credit, which includes emerging markets credit, securitized products and public finance, the memo said.
The memo was reported earlier on Monday by the New York Times.
(Reporting by David Henry in New York; Editing by Jonathan Oatis)
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