People moves

- Risk magazine staff
- 02 Oct 2009

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JP Morgan made some senior leadership changes in its investment banking business last month, promoting co-chief executive Steve Black, while letting go the other co-head, Bill Winters.

An official at the bank says the reshuffle was part of its succession planning for chief executive and chairman Jamie Dimon. While Dimon has no plans to leave, he was encouraged by the board to prepare a plan for his replacement, the official adds.

“With the credit crisis largely behind us and the economy

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