The China CEO of J.P. Morgan has retired after working at the US banking giant for 25 years.
J.P. Morgan's Mark Leung is stepping down from his role as China CEO and retiring from the bank, according to a memo seen by finews.asia. When contacted, a spokesperson for the bank confirmed the departure.
Leung has worked at J.P. Morgan for 25 years, after first joining the US lender in 1997 as a rate derivatives trader for Asia for four years. He then worked at UBS for two years in a similar capacity before rejoining J.P. Morgan in 2003. He was named APAC head of equity derivatives trading in 2013, APAC head of equities trading in 2014 and co-head of global equities and prime services in 2018 before becoming China CEO since 2018.
Successor Search
According to the spokesperson, Leung has agreed to stay with the bank through 2024 as China CEO to help with his succession and the smooth handover of his responsibilities. A successor will also be announced in due course.
