According to a report by Reuters, JPMorgan Chase & Co has appointed Matt Sable and Melissa Smith as co-heads of commercial banking unit.
The announcement came after a broader leadership reshuffle in January, where Jennifer Piepszak was appointed as Chief Operating Officer.
Sable and Smith will head a commercial banking business, which offers services to over 70,000 customers across 154 locations in the United States and Canada.
Most recently, Matt Sable headed JPMorgan’s global corporate banking, while Melissa Smith was head of specialized industries and co-head of innovation economy for middle market banking.
Stock Performance
The shares of JPMorgan Chase & Co (JPM) closed 0.40% ($1.10) lower at $275.80 in New York on Friday.
The financial group’s total market cap now stands at $771.578 billion.
The shares of JPMorgan Chase & Co (JPM) went up 40.92% in 2024, compared with a 23.30% gain for the benchmark index, S&P 500 (SPX).
The lender’s shares have added another 15.05% to their value so far this year.
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