Leadership Shift at JPMorgan as Shares Approach Record High

JPMorgan Chase & Co. is implementing a strategic leadership transition within its wealth management division, a move that coincides with its stock nearing an all-time peak. The financial giant has appointed seasoned executive Mollie Colavita as the new CEO of JPMorgan Advisors, a key unit for serving private clients.

Mollie Colavita, who brings more than three decades of asset management expertise from previous roles at firms like Bank of America Merrill Lynch, is stepping into a position with a strong legacy. She succeeds Phil Sieg, who led the division from 2021. Under Sieg’s leadership, the unit achieved a remarkable doubling of its assets under management, revenue, and net new money inflows. He also successfully managed the integration of... Read more...