JPMorgan co-COO Matt Zames to become sole COO after departure of Bisignano

240px-J_P_Morgan_Chase_Logo_2008_1.svgJPMorgan Chase announced on Sunday that Matt Zames, the company’s co-COO, would become the sole COO in the wake of co-COO Frank Bisignano’s departure from the company.

“I am pleased that Matt Zames is expanding his role,” JPMorgan Chairman and CEO Jamie Dimon said. “He is a proven business executive, who has performed exceptionally well since coming into his corporate role in May of last year. He’ll continue to have an important impact on our company.”

Bisignano is leaving JPMorgan to become CEO of First Data Corp., a payments processing firm.

“I want to thank Frank Bisignano for outstanding service at our firm,” Dimon said. “I have worked with Frank for many years, and he has proven himself time and again as a highly talented executive willing to take on difficult challenges and get the job done. While we will all miss Frank, we congratulate him on his new role as CEO of First Data Corp., a valued client of ours.”

Additionally, the bank announced that Paul Compton, the co-CAO for the corporate and investment bank and deputy head of operations, would become sole CAO. Co-CAO Louis Rauchenberger will become sole CAO of the corporate and investment bank.

“I’m very pleased that Paul Compton and Lou Rauchenberger are expanding their critically important roles,” Dimon said. “They are deeply experienced leaders who are highly respected inside and outside of our firm. We’re fortunate to have such a talented team of executives.”

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