(Reuters) – JPMorgan Chase’s co-head of worldwide markets, Jason Sippel, is leaving the Wall Road lender and Pranav Thakur has been named sole head of the enterprise, an inside memo seen by Reuters confirmed on Friday.
Sippel will probably be leaving for one more alternative after a 23-year stint on the largest U.S. financial institution by belongings, the place he held varied roles, together with increasing its prime brokerage enterprise and overseeing world credit score buying and selling and public finance.
Earlier this month, JPMorgan reported a report annual revenue as its dealmakers and merchants reaped a windfall from rebounding markets within the fourth quarter.
Stronger buying and selling ends in each fixed-income and equities companies helped maintain revenues on the financial institution’s Wall Road operations by means of a years-long downturn in dealmaking that harm the funding banking unit.
JPMorgan’s world markets franchise ended 2024 with a report income of $30 billion.
Thakur, who joined the financial institution in 2007 and beforehand served as head of worldwide macro markets, was appointed co-head of the enterprise in 2024 alongside Sippel.
(Reporting by Manya Saini in Bengaluru and Nupur Anand in New York; Modifying by Shounak Dasgupta)
