JPMorgan Shuffles High Non-public Financial institution Leaders as Camacho Departs

(Bloomberg) — JPMorgan Chase & Co. tapped Sanoke Viswanathan to supervise its worldwide wealth enterprise, a part of a broader management shakeup as longtime government Mike Camacho leaves the agency. 

Viswanathan will proceed to supervise the financial institution’s worldwide shopper push along with his new position, in line with an inside memo Tuesday from asset- and wealth-management boss Mary Erdoes and President Daniel Pinto. Martin Marron, who had led the worldwide personal financial institution since 2021, will change Camacho as head of wealth-management options. Adam Tejpaul will succeed Marron, reporting collectively to Viswanathan and Erdoes. 

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At JPMorgan’s investor day final month, Pinto highlighted the agency’s worldwide personal financial institution as a key development space. He referred to as the worldwide wealth panorama “considerably fragmented,” including that the unit has added 350 bankers since 2019 and that income, whereas “nonetheless small,” has tripled in the identical time-frame. 

Viswanathan joined JPMorgan from McKinsey & Co. in 2010 as head of company technique, and most lately was chief technique and development officer and head of worldwide shopper banking. A successor for the pinnacle of technique position can be named at a later date, Erdoes and Pinto wrote within the memo. 

Marron, who has spent greater than three a long time on the financial institution, will relocate to New York within the coming months for his new position. Tejpaul, Marron’s successor, was most lately head of investments and engagement for the worldwide personal financial institution.