JPMorgan names new banking co-heads Gori, Petno in global banking unit

The new organization structure will merge the commercial, corporate and investment banking franchises under global banking, the bank said, adding that it will be better aligned to the bank's coverage of clients as they grow in size and complexity.

Representative image. Source: Reuters

JPMorgan Chase named insiders Filippo Gori and Doug Petno as co-heads of global banking as it reorganized the business, according to a memo seen by Reuters on Monday.

The new organization structure will merge the commercial, corporate and investment banking franchises under global banking, the bank said, adding that it will be better aligned to the bank's coverage of clients as they grow in size and complexity.

Petno, 59, had headed the commercial banking group since 2012.

Gori, will also be the Europe, Middle East and Africa CEO in addition to his new role as co-head of Global Banking.

The new organization structure followed the announcement by Citigroup (C.N), opens new tab earlier on Monday that Viswas Raghavan, the head of global investment banking at JPMorgan, will be the new head of banking at Citi.

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