JPMorgan Chase shuffles management of investment banking team, names Jes Staley CEO of unit

JPMorgan shuffles investment banking management

NEW YORK — JPMorgan Chase is shuffling the management duties of its investment bank and asset management units.

The New York-based bank holding company says Steve Black will become executive chairman of the investment bank business. He was previously co-CEO of the division along with Bill Winters, who is leaving the company.

Jes Staley is taking over as CEO of the investment bank unit. Staley was formerly head of the asset management division.

Mary Callahan Erdoes is replacing Staley as head of asset management at JPMorgan Chase & Co. Erdoes was previously CEO of the private bank unit.