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JPMorgan Chase & Co. (NYSE:JPM) is playing musical chairs after it combined its corporate bank and its investment bank. The newly combined bank will be headed by Jeff Urwin on the investment banking side and Don McCree on the corporate banking side.
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Before the combination, Urwin was already the global head of investment banking, so he will simply be continuing in his post. However, McCree was formerly with the treasury, and will be essentially taking the place of Greg Guyett, who was formerly the CEO of JPMorgan’s global corporate bank. Guyett will help oversee the transition, but where he goes next is uncertain, though it sounds like he will still be working somewhere in JPMorgan.
Also playing music chairs are are Nicolas Aguzin, who will move from CEO for Latin America to CEO for Asia Pacific in 2013, and Martin Marron, who will immediately replace Aguzin as CEO in Latin America.
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