07:27 AM EDT, 04/05/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) has placed new officials at the helm of its global banking division, Reuters reported late Thursday, citing a memo.

A new structure merges the commercial, corporate, and investment banking groups under executives Filippo Gori and Doug Petno, Reuters reporter.

Kevin Foley was named global head of capital markets, overseeing debt and equity capital markets. Achintya Mangla, previously global head of ECM, will leave the bank, Reuters reported.

Dorothee Blessing and Jay Horine will become global co-heads of investment banking coverage, while Anu Aiyengar, who currently runs mergers and acquisitions, will also assume the role of head of advisory, according to the report.

John Simmons will lead commercial banking while global corporate banking will be run by Bregje de Best and James Roddy.

Separately, Park Pu is stepping down as chairman of JP Morgan's China onshore securities business, Bloomberg reported Friday, citing people familiar with the matter.

He will be replaced by Lu Fang, a former official at China's securities regulator who has served as chief executive of JPMorgan Securities (China) since 2022.

Greg Yu, recently head of the division's China equities and deputy general manager, will assume Lu's chief executive role, the people said, asking not to be identified before an internal announcement.

JP Morgan did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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