JPMorgan investment bank chairman Staley joins hedge fund

NEW YORK Tue Jan 8, 2013 7:48am EST

NEW YORK Jan 8 (Reuters) - Jes Staley, chairman of the investment banking unit of JPMorgan Chase & Co, is leaving the company to join hedge fund BlueMountain Capital Management, the fund said on Tuesday.

Staley had been chief executive of JPMorgan's investment bank until July, when Jamie Dimon, CEO of the company, reorganized business segments and named two younger executives to be co-chiefs of commercial and investment banking.

Staley had been at JPMorgan for 34 years.

BlueMountain said Staley will become its ninth managing partner. The firm said it has over $12 billion in assets under management.