The Wall Street Journal outlines a major shakeup at JPMorgan Chase under CEO Jamie Dimon. Moves include:
-Charles Scharf, who stepped down as the head of Chase's mortgage and retail banking operations, will become a partner in its One Equity Partners.
- David Lowman, the head of the bank's mortgage unit who reported to Scharf, was dismissed on Tuesday.
-Heidi Miller, who coordinates the bank's overseas expansion, will retire from the company in early 2012.
James Staley, the head of JPMorgan's investment bank, will take over Miller's duties.
The article also speculates on possible successors for Dimon, including Staley; Michael Cavanagh, the bank's former finance chief who now runs treasury services; Matthew Zames, head of fixed income in the investment bank; Mary Erdoes, head of asset management; and CFO Douglas Braunstein.
UBS appointed Marc-Anthony Hourihan and Ehren Stenzler as co-heads of U.S. mergers and acquisitions. [DealBook]
Citi hired Elinor Hoover, who previously worked at Morgan Stanley, as vice chairman of capital markets origination in the Americas.[NY Times]