February 12, 2019 / 9:36 AM / 8 days ago

JPMorgan appoints Filippo Gori as head of APAC banking

HONG KONG (Reuters) - JPMorgan Chase & Co has named Filippo Gori as head of Asia Pacific Banking, according to an internal memo from the bank.

Gori, who has been with the bank for nearly two decades, with the last five years in Asia, succeeded Nicholas Aguzin, who was earlier appointed chief executive officer of JPMorgan’s international private bank, the memo showed.

A bank spokeswoman confirmed the memo contents.

Aguzin would remain the CEO of Asia Pacific in addition to his new role, while Gori would serve as his deputy for the region, the bank announced internally at the end of January.

The appointment comes as JPMorgan awaits approval on its application to set up a majority-controlled joint venture in China, as Beijing has set an agenda to open up its financial sector.

The U.S. bank reported record net income of $32.5 billion in 2018 and a return on tangible common equity of 17 percent.

(This story was refiled to clarify Aguzin’s new role in paragraph 2)

Reporting by Kane Wu

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