(Reuters) - JPMorgan Chase & Co named Greg Guyett co-head of Asia-Pacific banking as part of a management restructuring in the region, Bloomberg reported, citing a memo.
Guyett will succeed Therese Esperdy, who is returning to the United States to become global chairman of the financial institutions group, the report said.
The changes are part of a management shuffle in China in the wake of a probe by U.S. regulators into JPMorgan’s Asian hiring practices, Bloomberg said.
Guyett was named chief executive of JPMorgan’s Greater China region in March, last year. (bloom.bg/1sE53TG)
JPMorgan said it hired former UBS AG banker David Li as its new China head, reinforcing its investment banking clout in the world’s second-largest economy after the departure of top China banker Fang Fang in March.
Guyett will oversee investment banking, equity markets, and other operations in the Asia-Pacific with Tom DuCharme, according to the Bloomberg report.
JPMorgan did not immediately respond to requests to comment.
Reporting by Subrat Patnaik; Editing by Lisa Shumaker