JP Morgan Chase veteran Don Wilson to retire

Wilson has served as chief risk officer since 2003, when he took up the position after working as co-head of the bank's credit and rates business.

"Don has also been an important leader and manager in several of our key businesses. He was head of East Asia in Tokyo and head of Europe in London during challenging periods of globalisation, deregulation and the growth of our dealing rooms," said JP Morgan Chase's chief executive, Jamie Dimon, in an internal memo. "For a decade thereafter, Don helped lead the building of our outstanding interest rate derivative and foreign exchange businesses. From 2001-2003, Don co-headed our investment bank’s credit and rates business globally. In addition, Don has helped execute several of our large banking mergers that have helped position us as the firm we are today."

Wilson joined Chemical Bank in 1973, which then merged with Chase Manhattan in 1996. Chase Manhattan subsequently bought JP Morgan to create JP Morgan Chase in 2001.

Andrew Threadgold, formerly global head of market risk at JP Morgan Chase, quit the US dealer to take on a similar role as global head of market risk at UBS earlier this year (See: Threadgold quits JP Morgan to run market risk at UBS).