J.P. Morgan Chase General Counsel to Change Roles

By Emily Glazer 

J.P. Morgan Chase & Co. said its general counsel, Stephen Cutler, will step down from his current role and become vice chairman of the firm early next year.

Stacey Friedman, general counsel of the bank's corporate and investment bank, will replace Mr. Cutler. For the rest of this year, she will report to him and act as his deputy. She will join the bank's operating committee next year when her new role begins.

Mr. Cutler will act as a "senior adviser" to J.P. Morgan Chairman and Chief Executive James Dimon, other executives and the board of directors, the bank said. "He will continue to assist on complex legal issues, including key matters that are already in progress," the bank said.

Mr. Cutler has been an executive with J.P. Morgan's legal group since early 2007. He previously was director of enforcement of the U.S. Securities and Exchange Commission and led investigations of various financial-reporting matters.

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