JPMorgan Names Zames Sole Bank COO
Bloomberg reported, citing an internal memo, that JPMorgan Chase named Matt Zames sole chief operating officer as Frank Bisignano departed to become chief executive officer of First Data.
Bloomberg said that Bisignano’s exit buttresses Zames’s stature as a potential successor to Dimon. Zames was promoted twice within the span of 100 days in 2012 as he helped Dimon regain control of a U.K. unit’s wayward bets on credit derivatives that cost the bank more than $6.2 billion, Bloomberg notes.
To read the Bloomberg story click here.