JP Morgan Chase has appointed Jacob Frenkel as chairman of JP Morgan Chase International. He will also become a member of the JP Morgan Chase executive committee and the international council.
Mr Frenkel is the chairman of the Group of Thirty (G30), a private, nonprofit consultative group on international economic and monetary affairs, and plays leadership roles in a number of other leading international organizations. From 1991 to 2000, he served for two terms as the governor of the Bank of Israel.
He most recently was a vice chairman of AIG and previously was chairman of Merrill Lynch International. Earlier in his career, he was chairman of the board of governors of the Inter-American Development Bank (IADB) and was also vice chairman of the board of governors of the European Bank for Reconstruction and Development (EBRD).
Jes Staley, CEO of JP Morgan, said: “In this new role, Mr Frenkel will serve the firm on a number of important fronts. He will work with senior management of JP Morgan Chase to help craft its international strategy and advise on key macro trends and issues in the global economy. Partnering with other leaders at the firm, he will liaise with global regulatory and monetary authorities, including the Federal Reserve, the ECB, other Central Banks, as well as supra-national financial institutions.”
Mr Frenkel said: “I am delighted by the opportunity to join the superb team at JP Morgan Chase. I have admired the management team, financial performance and the great global business that they’ve built. For me, this is an exciting time to join the firm. The performance of the financial sector will be key to a sustained economic recovery and few firms have the ability to play as much of a leadership role in that turnaround as JP Morgan Chase. I look forward to the opportunity to contribute to this important goal.”
