High-profile banker Kelly Coffey, who has spent 25 years at J.P Morgan, is leaving to take a new job.
Kelly Coffey, the head of J.P. Morgan's private bank in the U.S., has resigned to take a new job, according to an internal memo circulated at the bank.
She is one of the most senior women on Wall Street, having spent 25 years at JPMorgan Chase, and had been chief executive of the U.S. private bank for the last five. She began her career at the bank with six years in Buenos Aires, Argentina, working in mergers and acquisitions.
Ex-Investment Banker
Since then she has held various positions, including leading the derivatives marketing group, the corporate finance advisory team for North America, and the diversified industries investment banking team. She has also been head of the bank’s network for female investment bankers.
A memo from the bank said that «Kelly Coffey has informed us of her decision to pursue a new opportunity outside of the firm.» It added: «As U.S. private bank CEO for the past five years, Kelly has led the business through a period of steady growth.»
Branch Expansion
Coffey had spearheaded a massive expansion of J.P. Morgan's wealth arm in the U.S. of more than 20 new locations in the coming five years. As of the end of the second quarter, assets under management worldwide at the U.S. firm's private bank totalled $551 billion, up 13 per cent from a year earlier.
J.P. Morgan declined to comment further. Coffey has said she never planned to become a banker, having received a graduate degree in foreign service from Georgetown.
