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More JPMorgan Senior Management Changes

January 13, 2012
Perhaps in training for a croupier's job in an Atlantic City casino, JPMorgan Chase CEO Jamie Dimon announced that he had shuffled his management team - his second major management team shuffle in less than a year.  Here's who's coming and going at the bank, according to Mr. Dimon's internal memo:

Jay Mandelbaum - OUT. Former head of strategy and business development is leaving the bank.

Barry Zubrow - IN. Former Chief Risk Officer, who also played a crucial role during the financial crisis, has been promoted to head of corporate regulatory affairs. Dimon will continue to call on Zubrow for advice on risk issues.  Zubrow also will maintain his position on all firm risk committees.  Zubrow will further oversee public affairs and the bank’s chief spokesman, Joe Evangelisti, will report to him.

John Hogan - IN. Former head of risk for investment banking, he'll move into Zubrow;s former role as the firm’s Chief Risk Officer.

Doug Petno - IN. Former COO of the commercial bank, he'll now become CEO of commercial banking.

Both Mr. Hogan and Mr. Petno will join the firm’s operating committee and will report to Mr. Dimon.  Again, this is the 2nd major management shuffle at JPMorgan in less than a year.  Last June, a handful of executives were moved, including Heidi Miller, who left the bank.  She had been running the bank’s international operations. For other management changes, and to read Mr. Dimon's memo, go to:  [Dealbook, 1/12/12].