J.P. Morgan Taps New Heads of Equities

J.P. Morgan Chase & Co. said Wednesday that two longstanding executives, Mark Leung and Jason Sippel, will become global co-heads of equities.

The move comes days after Barclays PLC said Tim Throsby, who had previously been at the helm of J.P. Morgan's equities business, would move to the U.K. bank.

Mr. Leung and Mr. Sippel will also manage the prime-services business as well, alongside James Kenny, the New York bank's head of investor services, according to an internal memo reviewed by The Wall Street Journal.

Mr. Leung and Mr. Sippel will join the management team for the corporate and investment bank and report to division head Daniel Pinto.

J.P. Morgan has been working on bolstering its equities team over the past few years. In the memo, Mr. Pinto acknowledged Mr. Throsby's contributions over the past six years but added that the bank still sees "more opportunities…to invest and grow."

Mr. Leung and Mr. Sippel have held a variety of roles at the bank. Mr. Leung used to run the Asia Pacific Equities group, and Mr. Sippel previously oversaw the bank's prime-brokerage group.

Write to Emily Glazer at [e-mail]

(END) Dow Jones Newswires

September 07, 2016 14:27 ET (18:27 GMT)

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