NEW YORK - The newly formed J.P. Morgan Chase & Co. named Jes. E. Staley and Maria Elena Lagomasino as co-heads of the new J.P. Morgan Private Bank on Tuesday.
The announcement came just days after Chase Manhattan Corp. closed its acquisition of J.P. Morgan over the New Year's weekend and changed its name.
Ms. Lagomasino, 51, who had headed Chase's private banking division since 1997, will be responsible for developing new business as well as deepening established relationships, the company said in a news release.
Mr. Staley, 44, who had headed J.P. Morgan's private bank since 1999, will oversee integration of the businesses, and all the regional heads will report to him, the release said.
The new private bank employs 4,000 professionals worldwide and claims to have relationships with about 35% of the individuals listed in the Forbes 400. With $330 billion of private client assets, J.P. Morgan Private Bank is the nation's largest private bank and the world's second-largest.