J.P. Morgan announced a significant restructuring within its corporate and investment bank, appointing Vis Raghavan as the exclusive head of its global deal making unit. This move comes alongside broader changes at the Wall Street institution, positioning potential successors to CEO Jamie Dimon.
Raghavan, who currently serves as CEO of J.P. Morgan's Europe, Middle East, and Africa operations, steps into the role of sole head of investment banking, while his co-head, Jim Casey, transitions to a new, yet unspecified position within the organisation.
Raghavan's elevation coincides with J.P. Morgan's restructuring of its corporate and investment bank, which involves the dissolution of its current framework in favour of a larger commercial and investment bank. This expanded entity will encompass various functions including dealmaking, commercial banking, corporate banking, sales and trading, as well as payments and securities services.
Jennifer Piepszak, formerly co-CEO of J.P. Morgan's consumer bank, and Troy Rohrbaugh, head of markets, have been appointed as co-leads of this newly formed unit. Meanwhile, Marianne Lake assumes the role of sole head of consumer banking, while Marc Badrichani, co-head of J.P. Morgan's markets and securities services business, is departing from the bank.
Under Dimon's leadership, J.P. Morgan has promoted numerous senior executives, positioning several internal candidates as potential successors for when he eventually steps down from his current position.