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JP Morgan Private Bank's Asia CEO Adds International Leadership Role

Tom Burroughes

29 September 2016

Following on from announcements earlier this week about JP Morgan's wealth management business in the US, it was the turn for its Asian business to take centre stage.

Andy Cohen, who has been chief executive of JP Morgan's Asian private bank since 2010, will now also take on the post of CEO for the international privte bank (the global business but excluding the US), it confirmed to this publication today. 

The adjustment means that Pablo Garnica, who continues as EMEA private bank CEO, reports to Cohen; Chris Harvey, the Latin America private bank CEO, also reports to Cohen.

From 2005 to 2010, Cohen was MD, regional head of Southern California at the bank, working in Los Angeles; from 2002 to 2004 he worked at JP Morgan (Suisse) in Geneva, as MD, global head of Turkey and Israel.

As previously reported, has shuffled certain roles at its wealth management division and retail bank, in a move designed to bring its wealth management businesses closer together.

Barry Sommers will co-lead the new wealth management and investment solutions division with Brian Carlin, who was most recently chief financial officer of asset management.

Meanwhile, Thasunda Duckett, who led the bank’s auto finance unit, will succeed Sommers as head of the consumer bank. Sommers will in turn become chief executive of wealth management, which includes Chase Wealth Management, JP Morgan Private Bank and a legacy Bear Stearns business.

Carlin will serve as CEO of investment and banking solutions, overseeing all wealth management products and platforms. He will also lead JP Morgan’s digital wealth management and institutional wealth management businesses.