JP Morgan Chase & Co has named Greg Guyett and Rob Priestley as its new chief executives for the Greater China and ASEAN regions, respectively, according to an internal memo obtained by Reuters on Thursday.
These appointments follow a global restructuring of JP Morgan that began last summer, which saw the firm combine its corporate and investment banking operations into a single unit.
Guyett had been CEO of JP Morgan's global corporate bank until that restructuring, which triggered a management reshuffle that left his role at the bank uncertain after Mike Cavanagh and Daniel Pinto were named to run the newly merged global corporate and investment banking unit.
In these newly created roles, Guyett and Priestley will report to Nicolas Aguzin, chief executive of the bank's Asia Pacific business. Aguzin was appointed deputy CEO for Asia Pacific in December as part of the global reshuffle, and became the firm's chief executive for the region this March.
Guyett will oversee the firm's operations in China, Hong Kong, and Taiwan. Priestley will oversee Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Guyett's 27-year career at JP Morgan included a stint as the firm's senior country officer for Japan from 2007 until January 2010, when he moved to London to head the newly created global corporate bank unit that he had been running since November 2009.
Priestley is the firm's senior country officer for Australia and New Zealand, duties that he will maintain in addition to his new role. A 19-year veteran of the firm, Priestley has worked as head of fixed income for JP Morgan in both Asia Pacific and Europe, Middle East and Africa.
A JP Morgan spokeswoman confirmed the contents of the memo.
(Reporting By Lawrence White; Editing by Chris Gallagher)