JPMorgan is promoting a 17-year insider to lead the financial giant’s major investment banking business and is setting up a new unit within that franchise to focus on digital banking services, according to an internal memo seen by MarketWatch.
JPMorgan said that Fernando Rivas plans to retire in early 2024 after almost 30 years with the bank. He became head of North America investment banking in 2020 and first joined the bank in 1995 as an analyst in its North American financial institutions group.