Longtime JPMorgan Chase veteran Bill Wallace is set to become digital chief for its consumer bank.
Wallace's new role was announced by Gordon Smith, the chief executive of the consumer bank, in an Aug. 11 internal memo reviewed by American Banker. Wallace most recently served as the head of operations for JPMorgan's consumer bank and runs its customer-experience council.
In the memo, Smith says that he had discussed the changes with Gavin Michael, the current head of digital. On Tuesday, Citi announced that Michael would be joining that company as its head of technology for global consumer banking.
[Update: Read our follow-up story on the recent digital-banking-executive shuffle here.]
Smith said in the memo that he and Michael discussed some other potential roles for Michael at the company, but that Michael had also expressed an interest in "outside" opportunities. Smith noted in the memo that under Michael's direction, the company launched a new mobile app and website. He also recruited and developed "some fabulous talent on the digital team who are helping shape the future of our customer experience."
JPMorgan's mobile app has more active users (25 million) than any other bank in the U.S.
Alongside Wallace's promotion, Smith announced that Mike Ashworth, chief information officer of the consumer bank, would succeed Wallace as head of operations for the consumer bank. Saul Van Buerden is set to become chief information officer of the consumer bank.
"These moves are designed to broaden our leadership team with new assignments," Smith said in the memo. "We know mobility creates stronger, end-to-end leaders and these changes will help strengthen our focus on three essential areas."