Dina Dublon and David A. Coulter have become the latest senior-level executives to announce plans to step down from existing roles at J.P. Morgan Chase & Co. in the two months since it bought Bank One Corp. on July 1.
Ms. Dublon has been the chief financial officer of the New York banking company and its predecessors since 1998 and has been with the company in various other roles since 1981. She said she would leave at yearend to pursue other interests. Michael Cavanagh, who is currently in charge of middle-market banking in Chicago, will move to New York and take her place as the CFO.
In a telephone interview, Ms. Dublon said the timing did not reflect a "JPMorgan/Bank One thing" but rather was driven by a desire to look to "the next stage in my career."
"It is not at all about having reservations" about the post-merger company, she said. "I believe management is moving the company in the right direction."
Ms. Dublon is a popular figure with Wall Street, having been the public face of JPMorgan Chase through several mergers and the business slump in the last few years. However, speculation this year had several legacy JPMorgan Chase bankers leaving, as the new management team from Bank One asserted its authority.
Mr. Cavanagh came to JPMorgan Chase in the Bank One deal. Before that he had spent seven years at Citigroup Inc. and its predecessors.
Also on Tuesday, Mr. Coulter, a vice chairman who will be passed over for the chief executive officer spot by the company's anointed successor, James Dimon, said he decided to return to his home in Los Angeles at yearend. From there he will continue to oversee JPMorgan Chase's private equity operations and work with its West Coast corporate clients.
Steve Black and Bill Winters, the co-CEOs of the investment bank who reported to Mr. Coulter, will now report directly to Mr. Dimon and William B. Harrison Jr., the chairman and CEO. Jes Staley, the head of asset management, and James B. Lee and Walter Gubert, vice chairmen in the investment bank, will also report to Mr. Dimon and Mr. Harrison.
Other departures announced Tuesday included Linda Bammann, the deputy head of risk management, who will be succeeded by Don McCree, the head of commercial credit risk.
