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JPMorgan Chase named veteran banker Mark O’Donovan the subsequent head of its worldwide shopper financial institution Monday, in line with an inside memo seen by Banking Dive.
O’Donovan, who will substitute Sanoke Viswanathan, will oversee Chase’s U.Okay. arm, its deliberate launch in Germany, future market enlargement and the financial institution’s stake in Brazilian neobank C6. Moreover, he’ll oversee Nutmeg, JPMorgan’s European funding arm.
Viswanathan is leaving JPMorgan to turn out to be chief govt of economic software program agency FactSet in September. He spent 15 years on the financial institution and led its enlargement into the U.Okay., which since 2021 has garnered greater than 2.5 million clients.
“We’ve a particular tradition of collaboration and disruptive considering at JPMorganChase that permeates the group. Each line of enterprise desires to be the very best it may be, and I’ll carry that spirit with me as I transfer into my new function,” Viswanathan mentioned of his transition in a LinkedIn publish.
O’Donovan’s profession at JPMorgan spans three a long time, together with his present function as CFO of the industrial and funding financial institution, in line with the memo. He was beforehand CEO of Chase’s residence lending enterprise, and earlier than that, CEO of Chase Auto. He’ll relocate to London and report back to Marianne Lake, the financial institution’s shopper and group banking CEO.
O’Donovan was integral in integrating First Republic, too, following JPMorgan’s acquisition of the failed lender in 2023, the financial institution mentioned.
JPMorgan’s co-head of world company banking, Bregje de Greatest, will substitute O’Donovan because the CIB’s CFO. James Roddy, the opposite world company banking co-head, will transfer ahead because the enterprise’ sole head. Roddy and de Greatest have been with the financial institution 26 years and 19 years, respectively.
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