JPMorgan Chase & Co., the second-largest U.S. bank by assets, named Joseph Bonocore as treasurer, according to an internal memo obtained Wednesday by Bloomberg News.

Bonocore, previously a managing director in the company's chief investment office, replaces Norma Corio, who took over the job in 2008. Corio is joining the bank's chief investment office, according to the memo. Joe Evangelisti, a spokesman for JPMorgan Chase, confirmed the contents of the memo.

Bonocore has worked at the company for more than 20 years. He previously was chief financial officer and chief operating officer of the investment office. Corio is joining the special investments group in the chief investment office, the memo said. She will work with stressed and distressed companies that have loans with JPMorgan Chase, according to the memo.

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