JPMorgan Chase & Co. (JPM) appointed Matt Sable and Melissa Smith as co-heads of its commercial banking division, the company announced Friday, marking another shift in the bank’s leadership structure, according to Reuters. The move follows a recent wave of leadership shifts within the company.
Last month, JPMorgan promoted Jennifer Piepszak to chief operating officer, replacing Daniel Pinto. Piepszak had previously co-led the firm’s commercial and investment banking division. Her promotion led to John Simmons stepping up to oversee global banking alongside Filippo Gori, which Reuters reported left an opening in commercial banking leadership.
Sable and Smith will now fill that gap, managing a unit that provides services to more than 70,000 clients across 154 offices in the U.S. and Canada. According to Reuters, the division serves “early-stage startups to midsize corporations, government entities, not-for-profit organizations and commercial real estate investors.” They will report to Simmons and Gori.
Sable has been with JPMorgan for over 20 years and previously led the financial institutions group within global corporate banking. Smith, a nearly 30-year veteran of the bank, most recently oversaw specialized industries and co-led the innovation economy segment in middle market banking.
