JP Morgan Chase's head of investment management and private banking Ramon de Oliveira is set to retire in August this year.
He will be replaced by current private banking co-head James Staley, who will report to vice chairman David Coulter.
Staley has been with JP Morgan for the last 22 years in a number of positions and he was responsible for the developing the firm’s equity business.
De Oliveira joined JP Morgan in Paris in 1977 and has held a number of assignments in corporate finance and global markets businesses before becoming head of global equities in 1991. He became head of asset management services in 1997.
“Ramon was a key contributor to JP Morgan’s transformation into a leading investment bank, and, in more recent years, a main driver of growth in the firm’s private banking and investment management businesses,” said Douglas Warner chairman and William Harrison chief executive officer in a joint statement.
De Oliveira will remain involved in a number of boards affiliated with the company including American Century, JPMSuisse and the Sixty Wall Street Fund.
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