Jan 31 (Reuters) - JPMorgan Chase's ( JPM ) co-head of

global markets, Jason Sippel, is leaving the Wall Street lender

and Pranav Thakur has been named sole head of the business, an

internal memo seen by Reuters showed on Friday.

Sippel will be leaving for another opportunity after a

23-year stint at the largest U.S. bank by assets, where he held

various roles, including expanding its prime brokerage business

and overseeing global credit trading and public finance.

Earlier this month, JPMorgan ( JPM ) reported a record annual profit

as its dealmakers and traders reaped a windfall from rebounding

markets in the fourth quarter.

Stronger trading results in both fixed-income and equities

businesses helped sustain revenues at the bank's Wall Street

operations through a years-long downturn in dealmaking that hurt

the investment banking unit.

JPMorgan's ( JPM ) global markets franchise ended 2024 with a record

revenue of $30 billion.

Thakur, who joined the bank in 2007 and previously served as

head of global macro markets, was appointed co-head of the

business in 2024 alongside Sippel.