People Moves
JP Morgan Shuffles Management Structure As Head Of International Retires

JP Morgan Chase & Co has made a number of changes to its leadership structure following the announcement that Heidi Miller, president of its international business, will retire early next year.
Miller, a 30-year financial veteran, has held roles such as chief financial officer of Citigroup and Bank One, and chief executive of JPMorgan Chase’s Treasury & Securities Services business.
In her most recent role heading up the firm’s international business, she worked with business leaders across JP Morgan to develop an international business strategy and governance structure. On leaving, she has recommended the bank’s international activities be embedded into the various business lines.
Accordingly, the position of Todd Maclin, chief executive of Commercial Bank, has been extended to include parts of the retail business, including the branch network, the consumer franchise, small business banking and the Chase private client business.
In another move, Charlie Scharf, who heads up retail financial services, will become a partner in One Equity Partners, JP Morgan’s private equity arm. He will continue to work with the retail business to help with the transition, the firm said.
On the investment banking side, Jes Staley, CEO of that business, takes on added responsibilities for the oversight and coordination of the international franchise.
Lastly, Gordon Smith, CEO of card services, will be in charge of JP Morgan’s auto finance and student lending divisions, in addition to his current role.