JPMorgan Chase Hires New Head of Company Banking Ben Walter: Memo

Jenn Piepszak Chase

Jennifer Piepszak, co-CEO of Consumer and Group Banking together with Marianne Lake, talking at a meeting.

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  • Ben Walter, an exec at specialty insurer Hiscox, is JPMorgan Chase’s new enterprise banking CEO.
  • Walter succeeds Jen Roberts, who turned CEO of JPMorgan’s purchaser bank in March.
  • Go through the memo from Marianne Lake and Jennifer Piepszak, co-CEOs of Buyer and Neighborhood Banking.

JPMorgan Chase has tapped an outsider to head up its business banking division.

Ben Walter, the CEO of worldwide retail at Bermuda-based specialty insurance company Hiscox, will sign up for JPMorgan in early October, according to an inner memo seen by Insider. Walter will be dependent in the bank’s New York City headquarters.

In his new position, Walter will oversee more than 4 million smaller-business enterprise associations at Chase and a portfolio of roughly $38 billion in common organization banking loans and $175 billion in regular deposits, as of 2020. 

After becoming a member of Hiscox in 2011, Walter served as COO and CEO of the firm’s US company just before in the long run helming the insurer’s international retail enterprise, a division accountable for some $2.3 billion in revenues in 2020 in accordance to Hiscox’s yearly report.

Prior to Hiscox, Walter was a taking care of director at BlackRock in San Francisco.

Walter fills the hole still left when previous enterprise banking CEO Jennifer Roberts was tapped in March to exchange Thasunda Brown Duckett as head of client banking at Chase.

“Tiny businesses are the engine of our overall economy, and I have a passion for supporting enterprise owners as they look to develop.  Chase is the best platform to deliver quality merchandise and solutions to little corporations, in particular in the digital age, and I glance forward to doing the job with the whole Chase crew to provide our hundreds of thousands of clients,” Walter said in a statement supplied to Insider.

Study the total memo saying the employ the service of from Marianne Lake and Jennifer Piepszak, JPMorgan Chase’s co-CEOs of Shopper and Neighborhood Banking.

We’re fired up to announce Ben Walter as our new Main Executive Officer for Business Banking.  

Ben joins us from Hiscox – a chief in specialty coverage, the place he served as the World Retail Main Government Officer (CEO) for the last a few a long time, leading $2 billion in regional enterprises across 10 countries. He joined Hiscox in early 2011 as the U.S. Chief Operating Officer in advance of becoming questioned to provide as CEO of the U.S. division. At the helm of Hiscox’s retail operations, Ben drove double digit expansion, item innovation, and huge-scale digital transformation. Prior to Hiscox, Ben was a Controlling Director in the San Francisco workplace at BlackRock, in which he led initiatives in approach, company improvement, mergers and acquisitions, and operational excellence.  

With more than 20 yrs of purchaser and economical solutions working experience, Ben thinks purchaser 1st, and has a established keep track of history of driving organization progress and constructing globally retail brand names. As we think about the upcoming stage for Organization Banking at Chase  and the hundreds of smaller corporations that we aid, we’re searching ahead to Ben’s management and expertise to make it even simpler for our customers to increase their enterprises. Ben will sign up for us in our New York Metropolis headquarters in early Oct.

Remember to join us in welcoming Ben.