JPMorgan says Lipp to leave company, board

NEW YORK Tue Sep 9, 2008 3:01pm EDT

NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N), the third-largest U.S. bank by assets, said on Tuesday that Robert Lipp will resign as a director and officer, effective Sept. 30, so that he may join private equity firm Brysam Global Partners as a senior executive.

Lipp will continue to work with the bank in an advisory capacity, focusing on international consumer opportunities and developing leadership talent, JPMorgan said in a U.S. Securities and Exchange Commission filing.

Lipp joined JPMorgan's board in 2003 and became senior advisor in September 2005. He had been chairman and chief executive of Travelers Property Casualty Corp from December 2001 to April 2004, and then was executive chairman of its successor St Paul Travelers Cos from April 2004 to September 2005.

(Reporting by Jonathan Stempel, editing by Gerald E. McCormick)

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