JPMorgan shuffles management, eyes long term growth
JPMorgan International has made key changes in the top management of the company. And one of the major one is the appointment of Heidi Miller to the post of President of the firm.
The 57 year old Miller is currently working as the associate of CEO of JPMorgan Chase, Jamie Dimon. Jamie said that he is shifted to this post so that he is able to groom Miller as his eventual successor. His current responsibilities include working as the executive VP of Treasury and Securities and he will be replaced by Michael Cavanag, the current CFO.
Cavangah will be succeeded by Doug Braunstein, who is working as the head of the Investment Banking Americas.
This, said Dimon, is part of his strategy to rotate the senior executives of the company so that he is able to groom them as possible successors.
Many experts said that these key changes are a part of the plan where the firm is preparing itself to go aggressive on the overseas side.
All the key executives have either have a long stint with the international market or have had a good time looking at the strategies of Citigroup, the key competitor.
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