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By Hibah Yousuf

Another one of Jamie Dimon's key executives is leaving JPMorgan Chase, the firm announced Sunday.

Frank Bisignano, co-chief operating officer along with Matt Zames, is leaving the bank to run First Data Corp., a payments processing company owned by private equity firm KKR. Zames, who now appears to be the clear frontrunner to lead JPMorgan Chase & Co. (JPM) when Dimon retires, will be the sole COO of the bank.

"I am pleased that Matt Zames is expanding his role," Dimon said in a statement. "He is a proven business executive, who has performed exceptionally well since coming into his corporate role in May of last year."

Several recent departures at JPMorgan have been related to the London Whale trading scandal, which led to about $6 billion in losses and sparked several Congressional hearings.

But Bisignano's reputation was not tarnished by those losses.

"I have worked with Frank for many years, and he has proven himself time and again as a highly talented executive willing to take on difficult challenges and get the job done," said Dimon.

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Wonder how many millions of dollars in severance the Chase Executive got for cheating the American people and bleeding us dry.

April 29 2013 at 12:59 PM Report abuse rate up rate down Reply


April 29 2013 at 3:20 AM Report abuse rate up rate down Reply

The RAT are jumping ship.

Definition of RAT

a : any of numerous rodents (Rattus and related genera) differing from the related mice especially by considerably larger size

April 29 2013 at 2:26 AM Report abuse rate up rate down Reply

Chase Bank is Americas leading corrupt Bank.
Yes, I will never bank there again.

April 29 2013 at 1:34 AM Report abuse +1 rate up rate down Reply

Quiting so he can work at the Federal Reserve like most of his peers.

April 28 2013 at 11:07 PM Report abuse rate up rate down Reply
Black Condor

Why not report the salaries, perks, and bonuses of these officer? How much did they make and how much are they going to make. They always report the salaries of sports figures. Why not for everybody else?

April 28 2013 at 8:46 PM Report abuse rate up rate down Reply

sounds like the company has BIG problems.......... jumping ship before it hits

April 28 2013 at 8:33 PM Report abuse +1 rate up rate down Reply

So what do hedge funds and these banks exactly do that benefits the country? When you figure it out you'll understand why wages stagnated in the 70"s as productivity kept increasing. Could creating something you know would fail, and then bet against it have something to do with it?

April 28 2013 at 8:04 PM Report abuse rate up rate down Reply

When top execs start leaving their jobs it's usually quickly followed by criminal charges. Let's hope!

April 28 2013 at 6:56 PM Report abuse +2 rate up rate down Reply

Sorry, guys...gotta run. There's more money to steal over at First Data, including my very large bonus check that I won't have to work for.

April 28 2013 at 6:15 PM Report abuse +2 rate up rate down Reply