JPMorgan Chase

One of the new co-heads of consumer and community banking to succeed co-President Gordon Smith "is likely the ultimate next CEO of JPMorgan,” an analyst says.

Two advisors left their prior firm of 10 years after the bank’s wealth and asset management unit generated record net income in the first quarter.

The move by the nation’s largest bank is likely to be under close watch as state and federal authorities start to ease pandemic restrictions.

Joe Skarda, who was previously managing director of JPMorgan Chase’s U.S. wealth management central division, will oversee a unit that houses Key’s private bank, family wealth and mass affluent business segments.

JPMorgan’s CEO said in a memo that he expects “all U.S.-based employees will be in the office on a consistent rotational basis” by early July.

The actively managed offering will be available as soon as this summer, according to sources familiar with the plans.

He takes over for Chris Harvey, who ran the team for four years.

Evan Schottenstein, without admitting or denying the findings, agreed to the sanction after FINRA concluded he wasn’t complying with its investigation.

It could all add up to a Goldilocks moment, where growth is fast and sustained while inflation ticks up gently, he wrote to shareholders in his annual letter.

JPMorgan Chase said it plans to hire 300 additional Black and Latino wealth advisors by 2025 to serve more clients from those communities and allow employees from diverse backgrounds to advance in their careers.