A JPMorgan Chase & Co lawyer responsible for litigation and government investigations is leaving the lawsuit-laden bank.
Michael Coyne, who has been associate general counsel and co-head of litigation at JPMorgan, is becoming general counsel of Union Bank and its holding company, UnionBanCal Corp, according to a statement that Union Bank issued on Monday.
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Coyne had been at JPMorgan for 21 years and in 2010 became responsible for litigation and government investigation matters worldwide, according to the statement.
A JPMorgan spokesman said Jill Centella, co-head of litigation, remains at the bank. The spokesman declined further comment.
Coyne's departure comes as JPMorgan is spending $5 billion a year on litigation and government investigations into a wide range of allegations over issues including reporting of losses from its "London Whale" derivatives trades, sales of mortgage securities, commodities trading and credit card debt collections.
San Francisco-based UnionBanCal Corp has assets of $102 billion, operates 422 branches and is owned by Mitsubishi UFJ Financial Group Inc <8306.T> of Tokyo.
JPMorgan, based in New York, has $2.44 trillion of assets, which ranks it the biggest United States bank.
(Reporting by David Henry in New York; Editing by Gerald E. McCormick)