The JPMorgan exec who led the bank's PPP rollout was just tapped as its new consumer banking chief. We've got the full memo.
- JPMorgan announced Jennifer Roberts will lead its consumer banking division.
- Roberts has been CEO of the firm’s business banking unit since 2019.
- The firm is searching for a new business banking CEO.
- See more stories on Insider’s business page.
JPMorgan has landed on a new consumer banking head one month after the division’s former CEO departed for TIAA.
Jennifer Roberts, who currently heads the firm’s business banking group, will step in to lead consumer banking effective immediately, according to an internal memo viewed by Insider. She has been at the firm since 1996 and in the business bank CEO role since 2019.
During her time as business bank lead, Roberts oversaw the group’s work to fund more than $30 billion in Paycheck Protection Program (PPP) loan money for about 250,000 small-business clients in the early months of the pandemic.
Her appointment comes a month after the departure of Thasunda Brown Duckett, a rising star at the firm and the first Black woman to join its influential operating committee. She left JPMorgan in February to lead financial services and retirement firm TIAA.
JPMorgan said it was still searching for its next CEO of business banking, and the team will continue to report to Roberts in the meantime.
Here is the full memo from JPMorgan co-president and COO Gordon Smith about Roberts’ hire
I am pleased to announce Jennifer Roberts as the new CEO of Consumer Banking.
Jen has spent nearly her entire career in financial services, with her first role being a call center representative more than two decades ago. She has been an outstanding leader since joining the firm in 1996. She brings a wealth of knowledge and experience, excelling in multiple executive roles across Chase, including Digital Products, Chase Pay, Ultimate Rewards and the Sapphire portfolio.
Jen has been the CEO of Business Banking since 2019, helping the business simplify and modernize our small business solutions and enhance our customer experience, including the recent launch of Chase Business Complete Banking with QuickAccept.
For the last year, Jen has been leading the team through the strategy and execution of the Paycheck Protection Program, the largest small business relief program in our country’s history. Jen and the Business Banking team have helped some of America’s smallest businesses receive more than $32 billion in loans last year — the most of any lender — and continue to support the program today.
We will conduct an internal and external search for a new Business Banking CEO, and in the meantime, the Business Banking leadership team will continue to report to Jen.
Please join me in congratulating Jen on her new role and wishing her continued success.
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