With the passing of James B. Lee Jr., Wall Street has lost one of its most quintessential figures—an archetypal investment banker who for four decades weathered booms, busts and changes in regulations by harnessing the art of deal making, networking with corporate chieftains and promoting his successes.

A vice chairman at JP Morgan, Lee, 62 years old, was at home exercising on a treadmill Wednesday morning when he became short of breath and went to the hospital, where he died, the bank said.