JPMorgan Chase announced that Jennifer Piepszak, Co-Chief Executive Officer of Consumer and Community Banking (CCB), and Troy Rohrbaugh, Co-head of Markets and Securities Services, will become Co- CEOs of the expanded Commercial & Investment Bank, which will bring together major wholesale businesses of Global Investment Banking, Commercial Banking, Corporate Banking as well as Markets, Securities Services and Global Payments. The company's investment, commercial and corporate bankers cover clients of all sizes around the world ranging from middle market companies to large, multi-national firms. Combining these efforts will enhance and deepen the way the company can seamlessly deliver the world's most complete set of wholesale banking products and solutions. Doug Petno, CEO of the Commercial Bank, will lead an expanded Commercial Banking business, which will also encompass the Global Corporate Banking group.

These franchises already share an unwavering commitment to their clients, so this alignment provides great synergies across the firm's spectrum of product and service capabilities. Viswas Raghavan, Co-head of Global Investment Banking, will become sole head of the Global Investment Banking franchise, while his partner, Jim Casey, has informed the company of his desire to take on an exciting new role in the firm, which will be announced shortly. Marc Badrichani, Co-head of Markets and Securities Services, has informed the company of his desire to pursue outside opportunities.

He will work with his senior colleagues in the near term on transition plans for the Sales and Research group. Marc is an exceptional business leader, and the company is immensely grateful for his outstanding efforts. o Jason Sippel and Pranav Thakur will become Co-heads of the company's top- ranked Markets Trading business.

Tim Fitzgerald will continue to lead Securities Services, which provides essential post-trade services to institutional asset-manager clients. Takis Georgakopoulos, Head of Global Payments, will continue to lead that business through its transformation and growth initiatives a major strategic imperative for the firm and a critical service for its and most complex wholesale clients. Marianne Lake, Co-CEO of CCB, will become sole CEO of that business.

Mary Erdoes remains CEO of Asset & Wealth Management.