As expected, new JPMorgan (JPM) investment bank head Daniel Pinto unveils a number of management changes inside his division aiming to simplify the chain of command and give bigger roles to some veteran leaders.
According to an internal memo sean by DealBook, Carlos Hernandez - head of the bank's investor services - is promoted to co-head of global banking alongside Jeff Urwin. The promotion formally puts two leaders in charge of the three main parts of the division: Investment banking, corporate banking, and treasury and security services. Prior to today's change, Don McCree headed two of those units, but he is retiring.
The other major change today is the promotion of analyst Joyce Chang - known for her coverage of fixed income and emerging markets - to global head of research, replacing Tom Schmidt who had let it be known he's looking for a different role.
Full memo is in the DealBook article
Previously: More management changes coming at JPMorgan