JPMorgan Chase Names New Mortgage Chief

JPMorgan Chase has appointed a new CEO for its mortgage banking business, the company announced in a press release. Company veteran Kevin Watters will be the top manager for the unit, following his tenure as head of Morgan's mortgage origination department.

Watters had held that position since 2010. Before that, he served for five years as CEO of business banking.

Mortgage banking is considered crucial to JPMorgan's success, as the refinancing segment is particularly robust. In addition, the bank is No. 2 in terms of home loans made this year by U.S. financials, behind Wells Fargo .

The article JPMorgan Chase Names New Mortgage Chief originally appeared on Fool.com.

Eric Volkman has no positions in the stocks mentioned above. The Motley Fool owns shares of JPMorgan Chase and Wells Fargo. Motley Fool newsletter services recommend Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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