JPMorgan Chase names new head of business banking

JPMorgan Chase on Tuesday named Andrew Kresse, a 10-year veteran of the company, as CEO of business banking.

In his new role, Kresse will oversee a range of deposit, credit and cash management services for companies with up to roughly $20 million in annual revenue. He will report to Gordon Smith, the CEO of consumer and community banking at the New York company.

Kresse previously worked on the investment banking side of JPMorgan Chase, as head of North American corporate derivative marketing. He succeeds Jennifer Piepszak, who was named head of card services earlier this year.

In a news release, Smith called Kresse “the ultimate team player” with a reputation for building bridges across the company to benefit its clients. “Business banking is one of those businesses that touch nearly all others at JPMorgan Chase, and Andrew’s network, work ethic and talents will be a great asset as he becomes CEO,” Smith said.