JP Morgan has looked in-house to recruit the next chief executive officer of its US wealth management unit, JP Morgan Securities, appointing Chris Harvey to the role.
Harvey, currently the chief executive of its Latin America Private Bank, will replace Greg Quental who has held the role since August 2010 and is retiring at the end of the year.
In the new role, Harvey will be in charge of the growth and strategy of JP Morgan Securites, overseeing 19 US locations with 420 financial advisors and $110 billion in assets. He will report to Barry Sommers, chief executive of JP Morgan’s wealth management group.
‘We are fortunate to have Chris Harvey, who is one of the firm’s most well-rounded, global and experienced leaders, build on Greg’s legacy and continue to grow our footprint and franchise,’ said Sommers.
Prior to becoming chief executive of JP Morgan’s Latin America Private Bank, Harvey was a senior country officer for JP Morgan in Japan helping the grow the firm’s Japanese business.
In September, JP Morgan combined the wealth businesses in its asset management division and consumer bank, dubbing the new unit the Wealth Management and Investment Solutions division.
Following the reorganization, Sommers was named chief executive of JP Morgan Wealth Management.