JPMorgan Chase & Co. ( JPM ) has reshaped its leadership in Europe, the Middle East and Africa, appointing London-based Conor Hillery and Paris-based Matthieu Wiltz as co-chief executives for the region after Filippo Gori moved to New York earlier this year.

The pair will run the EMEA franchise of the Wall Street bank and join the Commercial & Investment Bank’s management team, succeeding Gori, who continues as co-head of global banking, Financial Times reports, citing an internal memo.

Hillery, previously head of investment banking for EMEA, and Wiltz, the region’s head of sales, have served as deputy chiefs since 2024.

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They will report to CIB co-heads Doug Petno and Troy Rohrbaugh, and to asset and wealth management chief Mary Erdoes.

Gori relocated to New York while retaining his EMEA mandate and last year added duties as co-head of global banking, increasing the demands on his time, Financial Times adds.

In a staff note, Petno, Rohrbaugh and Erdoes wrote: “With Filippo’s relocation to New York now complete, and given the time the [global banking] business requires of him, he felt it was the right time to make this transition,” the report adds.

Gori told colleagues the handover aligns with his move to the U.S., adding: “With my relocation to NY in the summer, it made sense now ‘to pass the baton’ to both of them,” Financial Times notes.

Running a European-focused business from the U.S. is unusual but not unheard of across London-based financial institutions.

The leadership reshuffles arrive as industry watchers continue to speculate on eventual succession to CEO Jamie Dimon. Executives often cited in that conversation include Petno, Rohrbaugh and consumer-bank head Marianne Lake, the report adds.

Price Action: JPM shares were trading lower by 1.45% to $304.70 at last check Tuesday.

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