Finance chief moves up at JPMorgan Chase

A boardroom reshuffle at investment bank JPMorgan Chase sees its CFO climb
the ladder to divisional CEO, and its head of investment banking take on the
finance post.

Michael Cavanagh, the current chief financial officer, is to succeed Heidi
Miller as CEO of treasury and securities services. He has a history in the
banking industry having held various senior positions at Commercial Banking,
Bank One, Chicago Bank and Citigroup. He joined JPMorgan Chase in 2004.

The bank’s head of investment banking, Doug Braunstein, will succeed Cavanagh
as CFO. Braunstein has been a member of the firm’s executive committee since
2005.

Jamie Dimon, chairman and CEO, said: “In developing great leaders and
building a strong company, we focus on continually broadening the experience of
our executives and working to deploy their talents and expertise across the
organisation.”