JP Morganís global investment banking chief will take on the additional role as chief of Asia-Pacific, and relocate to Hong Kong, marking a milestone for the US bank and underlining the growing importance of the region.
Jeff Urwin is going to be busy. Currently head of global investment banking coverage, capital markets and mergers & acquisitions, the ex-Bear Stearns executive will shoulder the additional role of Asia-Pacific chief. Urwin will be responsible for overseeing all of the US lenderís strategic activities in the region, along with his current global banking responsibilities, said the firm in a statement.
He will relocate from New York in May and will continue to report to Jes Staley, chief executive of the investment bank.
This is the first time JP Morgan's global head of investment banking will be based in Asia-Pacific. "Basing our global head of investment banking in Asia Pacific further cements our ongoing commitment to the region and its importance to our global franchise,Ē said Staley.
Urwin succeeds Gaby Abdelnour, the current head of Asia-Pacific, who announced in March that he would be leaving the bank this summer, after 14 years with the firm. It is not clear where he is going.