JPMorgan has appointed Vis Raghavan as chief executive of its Europe, Middle East and Africa (EMEA) business, as reported by a news agency.
Raghavan is now the Deputy CEO of the company’s EMEA operations. In his new role, he will oversee the co-ordination of the bank’s EMEA business in asset management and private banking as well as the corporate and investment bank.
In June this year, JPMorgan Chase COO Matt Zames, a 13-year veteran of the firm, quit.
Zames has been considered as a successor to Jamie Dimon. Dimon, who’s been CEO since late 2005, has watched several of his most likely successors move on in recent years, taking top posts at other firms. Frank Bisignano stepped down as co-COO in 2013 to run First Data Corp., and Mike Cavanagh left in 2014 to take senior roles at Carlyle Group LP and later Comcast Corp. Jes Staley, who climbed JPMorgan’s ranks over more than three decades to run its investment bank, departed in 2013 and is now CEO of Barclays Plc.
Raghavan’s appointment comes six months after Daniel Pinto, JPMorgan’s global head of investment and corporate banking, was handed additional responsibilities including joint global head of technology and operations, following the exit of the bank’s COO Matt Zames.
Raghavan, who has held a number of roles at JPMorgan since joining the bank in 2000 from Lehman Brothers, will report to Pinto and to Mary Erdoes, Chief Executive of JPMorgan Asset Management.
He will also become CEO of JP Morgan Securities plc, the bank said.