-
Union Bank garnered high marks from customers in almost every key area of our most recent survey on bank reputations. CEO Masashi Oka explains the approach that produced these results.
June 25 -
JPMorgan Chase loses another top exec as co-chief operating officer Frank Bisignano leaves to run payment processor First Data. The move further consolidates power with Matt Zames, whose rapid ascent will in leave him as the sole COO.
April 28
Links:
By Maria Aspan
JPMorgan Chase (JPM) is losing one of its top lawyers as its legal and regulatory troubles continue to mount.
Michael Coyne, co-head of litigation for JPMorgan, is leaving the country's largest bank for a smaller competitor. He will become senior executive vice president and general counsel at Union Bank, a San Francisco unit of the Bank of Tokyo-Mitsubishi UFJ, the company
Coyne is the latest in a long list of senior executive departures at JPMorgan Chase, which is facing
JPMorgan and Chief Executive Jamie Dimon have been under heightened scrutiny since early 2012, when the now-infamous London Whale rogue trader cost the bank more than $6 billion. Since then, Dimon has replaced several of his top lieutenants and lost several other senior executives. Coyne, who spent 21 years at JPMorgan and its predecessor companies, is joining a list of departures this year that also includes co-chief operating officer
As regulators investigate JPMorgan operations ranging from its commodities trading to its hiring practices in China, Coyne is leaving for a company that has garnered some more positive attention in recent months. UnionBankCal Corp., with $102.3 billion in assets and 422 U.S. branches, has the
But Coyne, who will also serve on the executive committee making policy for Bank of Toyko-Mitsubishi in the Americas, may not be able to completely avoid future dealings with regulators. In June, the Japanese parent company
