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.
By Janet Du Chenne
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.