JPMorgan Names New Heads for North America Corporate Banking Division

• Mike Lister and Brennan Spry appointed co-heads of North America corporate banking, reinforcing JPMorgan's growth strategy.
• JPMorgan's CIB unit posted $6.65 billion Q2 net income, up from $5.9 billion, driven by investment banking performance.

According to an internal memo, JPMorgan Chase has appointed Mike Lister and Brennan Spry as co-heads of North America corporate banking. The move is intended to strengthen the Commercial and Investment Banking (CIB) division, which has demonstrated significant strength and is a key driver of growth at the largest US bank.

On Tuesday, the New York-based bank beat second-quarter profit estimates, owing to strong performance in its investment banking business and trading. The CIB division's second-quarter net income increased to $6.65 billion from $5.9 billion in the same period last year.

In the bank's international corporate banking division, Lister was the former head of the natural resources group, and Spry was one of the co-heads of the diversified industries group.

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In their new positions, they will be in charge of all corporate banking divisions in North America, including technology, real estate, and healthcare. More than 7,000 customers, including major corporations and financial institutions, are served by JPMorgan's global corporate banking division.