Mr Black will work with the firm’s global clients, including governments, financial institutions and investors, advance the firm’s international growth strategy, and represent the firm with global regulatory and monetary authorities as one of its most senior executives.
Mr Dimon said: “Mr Black led the investment bank through one of the most difficult and complex times in our history, and helped build it into the market leader it is today. The transition to Jes Staley as CEO of the investment bank has gone smoothly and quickly, and Mr Black has said that he would like to focus more of his time on advising our clients.”
Mr Black said: “The issues our clients are facing are more complex than ever and many are asking for deeper engagement from our senior team. I’m looking forward to shifting my attention to our global clients and leveraging what I have learned in my career to help them however I can.”
Mr Staley said: “I want to thank Mr Black for helping me get up to speed so quickly in transitioning the leadership of the investment bank. He’s been a terrific partner, and I’ll know I’ll continue to benefit from his advice.”
