JPMorgan Chase & Co. is promoting a 17-year insider to lead the financial giant’s major investment-banking business and is setting up a new unit within that franchise to focus on digital banking services, according to an internal memo seen by MarketWatch.
The bank said Rivas has been “instrumental” in growing its investment-banking business in the U.S. and overseas and is “globally recognized as one of the leading financial services investment bankers by clients and colleagues alike.” “Jay has led numerous landmark transactions across the energy sector and is playing a pivotal role in helping many of our top clients prepare for the energy transition,” the company said.
That group will be led by Samik Chandarana, who has been chief data and analytics officer at JPMorgan Chase’s corporate and investment bank for the past six years. Chandarana will be part of the global banking management team.