Dec 4 JPMorgan Chase & Co said it was
recasting responsibilities of some of its executives in
corporate and investment banking after deciding in July to put
two key business segments into one.
The steps, announced on Tuesday in an employee memo provided
to Reuters, raise the profiles of two emerging markets
specialists and leave an ambiguous status for Greg Guyett, who
had held the title of chief executive officer of JPMorgan's
global corporate bank.
The memo, from the two co-CEOs of JPMorgan's recently
combined Corporate & Investment Bank, said they would integrate
coverage of banking clients under two men: Jeff Urwin, who will
continue as global head of investment banking, and Don McCree,
the global head of treasury services who will now also oversee
Guyett, 48, will help Urwin and McCree with the transition
"before taking on his next role in the company," the memo said.
The memo, which did not say what Guyett will do next, praised
him for increasing the bank's international revenue and
expanding its wholesale banking services outside of the United
Under Guyett, global corporate bank revenue increased in
2011 by 29 percent in investment banking and 22 percent in
treasury services, according to a February presentation by the
The memo also announced that Nicolas "Gucho" Aguzin, who has
been CEO for Latin America, will move to Hong Kong to become CEO
of Asia Pacific in 2013, following an interim step as deputy for
that region reporting to Urwin. Aguzin has been at JPMorgan for
Martin Marron, described as a 20-year veteran of JPMorgan,
will be the new CEO of Latin America immediately. He has led
sales and trading teams across Latin America, the memo said.