(Reuters) -JPMorgan Chase has appointed Mike Lister and Brennan Spry as co-heads of North America corporate banking, according to an internal memo seen by Reuters.
The move is aimed at reinforcing the Commercial and Investment Banking (CIB) unit, which has shown considerable strength and is a key driver of growth at the largest U.S. bank.
The New York-based bank beat estimates for second quarter profit on Tuesday, helped by robust performance in its investment banking business and strong trading.
The CIB arm reported a net income of $6.65 billion in the second quarter, up from $5.9 billion in the year earlier.
Lister previously led the natural resources group, while Spry served as one of the co-heads of the diversified industries group within the bank’s global corporate banking business.
In their new roles, they will oversee all segments of corporate banking in North America, including healthcare, real estate, and technology.
JPMorgan’s global corporate banking business serves more than 7,000 clients, including large corporations and financial institutions.
(Reporting by Pritam Biswas in Bengaluru; Editing by Tasim Zahid)
Comments