JPMorgan Chase COO Matt Zames stepping down

Investing

Matt Zames, who served as the chief operating officer of JPMorgan Chase and was once seen by many as a potential successor to CEO Jamie Dimon, is stepping from his position, the bank disclosed Thursday in a filing with the Securities and Exchange Commission.

Per a CNBC report, Dimon announced Zames’ departure in a memo sent Thursday to the bank’s employees. Shortly thereafter, the bank confirmed Zames’ departure in the SEC filing.

The SEC filing does not provide a reason for Zames leaving the bank, simply stating that he “decided to leave” the company after 13 years.

Of Zames, Dimon said that he was an “integral part of the team that helped manage the firm successfully through the financial crisis,” per the CNBC report.

The filing also states that Zames is “working closely with the Firm to ensure a smooth transition of his responsibilities to other members of the Operating Committee and will continue to do so over the coming week.”

Additionally, the SEC filing notes that Zames’ responsibilities will be split among several of the bank’s other senior executives.

Specifically, the bank said that:

Marianne Lake, Chief Financial Officer, will oversee the Chief Investment Office/Treasury, the Office of Regulatory Affairs, the Global Director of Regulatory Relations, and Oversight and Controls and will assume direct managerial responsibility for those Corporate Finance executives who previously reported to Mr. Zames.

Daniel Pinto, CEO of Corporate Investment Bank, and Gordon Smith, CEO of Consumer Community Banking will jointly oversee Global Technology, the Intelligent Solutions group, and Mortgage Capital Markets.

Mary Erdoes, CEO of Asset Management, and Doug Petno, CEO of the Commercial Bank, will jointly oversee the COO Global Operations unit, Global Real Estate, Global Security Investigations, Military Affairs, Events Planning, Procurement and other General Services.

Corporate Strategy and Private Investments will directly report to the Chairman and CEO, Jamie Dimon.

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