Former Sears' Exec Ehrlich Joins JPMorgan Chase

JPMorgan Chase & Co. has hired former Sears Financial Services executive Susan Ehrlich as its senior vice president of next generation payments.

Reporting to Jack Stephenson, Chase's head of mobile banking, e-commerce and payments, Ehrlich is responsible for developing new payments products and services for consumers, small businesses and retail merchants. She began working for Chase earlier this summer, though company did not announce her appointment until Thursday.

As president of Sears Financial Services, Ehrlich expanded credit and gift card offerings and re-introduced lawaway for Sears and Kmart customers. Ehrlich, who started at Sears in 2006, also oversaw the creation of Kmart Financial Centers, which provide in-store transactional services such as check cashing, bill payment, money orders and money transfers. The financial centers were seen as a way to attract unbanked and underbanked consumers while aiming to boost sales in Kmart stores.

Ehrlich has been named one of American Banker's 25 Most Powerful Women in Finance in each of the last three years.