LONDON, April 13 (Reuters) - JPMorgan Chase & Co. has named Emilio Saracho as vice-chairman and promoted Vis Raghavan to replace him as deputy CEO of its commercial and investment bank (CIB) in Europe.
Saracho will become one of only three vice-chairmen at JPMorgan. He has been promoted after two years as deputy CEO for CIB in Europe, Middle East and Africa, according to a memo to staff on Monday and seen by Reuters. A spokeswoman for JPMorgan confirmed the contents.
Raghavan will take on Saracho’s role in addition to his current responsibilities as head of banking for EMEA, which he has had for the past two years. He will be deputy to Daniel Pinto, chief executive of CIB for EMEA.
Saracho and Raghavan will continue to be based in London. (Reporting by Steve Slater, editing by Sinead Cruise)