J.P. Morgan appoints new chief executive

J.P. Morgan's local chief executive Rob Priestley has stepped down after 15 years in the top spot.

Head of global investment banking Paul Uren will replace Priestley as chief executive for J.P. Morgan Australia and New Zealand.

Priestley joined the firm 23 years ago serving in a number of senior roles including chief executive of the ASEAN region, and led the global emerging markets and international fixed income divisions across Europe, Middle East and Africa.

He will stay on as a non-executive chair and will also join the ASX board as a non-executive director.

Prior to joining J.P. Morgan almost two years ago, Uren held long-serving investment banking positions at Goldman Sachs for 11 years and Salomon Smith Barney/Citi for more than seven years.

J.P. Morgan Asia Pacific chair and chief executive Nicolas Aguzin said with more than 1100 employees, the company experienced "tremendous success and realised significant growth" under Priestley's leadership, particularly in the corporate and investment banking, asset and wealth management, and commercial banking businesses.

Priestley will replace chair Sir Rod Eddington, who was appointed to establish the Asia Pacific Advisory Council, which aims to foster relationships with clients within the region. Eddington also sits on the board of Lion and 21st Century Fox, and is a member of the APEC Business Advisory Council.

Read more: Rob PriestleyAsia PacificAfricaAPECASEANASXCentury FoxEuropeGoldman SachsJ.P. Morgan Asia PacificJ.P. Morgan AustraliaJPMorganLionMiddle EastNew ZealandNicolas AguzinPaul UrenPriestlySalomon Smith BarneyCitiSir Rod Eddington
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