JPMorgan Chase has reorganized its senior management team, Financial Times reports. As a part of the re-shuffling, Charles Scharf, CEO of the firm’s retail financial services arm, will now become a partner at the bank’s private equity arm, One Equity Partners, while another executive, Heidi Miller, will retire as president of JPMorgan’s international operations.
Head of JPMorgan’s commercial bank, Todd Maclin, will now handle most of the responsibilities of Scharf, which also includes the retail branch network. Additionally, the credit-cards executive of JP Morgan, Gordon Smith, will now manage auto and student lending operations.
