JPMorgan Chase & Co. has named Paul Compton the chief financial officer of its investment banking unit.

Mr. Compton succeeded Blythe Masters, who is now running the $1.4 trillion-asset company's currencies and commodities business.

Mr. Compton will also head business management for the investment bank, according to a Jan. 22 internal announcement. On Monday a JPMorgan spokesman confirmed Mr. Compton's appointment.

Mr. Compton previously worked on revamping the credit risk infrastructure in JPMorgan Chase's wholesale businesses.

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