By Alexander Saeedy

JPMorgan Chase has promoted two bankers to run its commercial banking business, part of a series of management changes at America's biggest bank.

On Friday, JPMorgan named Melissa Smith and Matt Sable as co-heads of commercial banking, according to an internal memo seen by the Wall Street Journal. JPMorgan's commercial bank lends and provides treasury services to midsize companies and government entities. It serves more than 70,000 clients across the U.S. and Canada, the memo says.

Melissa Smith was previously the head of the commercial bank's initiative to grow relationships with tech startups and early-stage companies. Matt Sable was previously the head of the financial institutions group inside JPMorgan's corporate bank, which focuses on serving the biggest companies in the world.

The new co-heads are taking over from John Simmons, who was promoted in January to become co-head of global banking, the unit that includes JPMorgan's corporate, commercial, and investment banks.

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(END) Dow Jones Newswires

February 07, 2025 16:23 ET (21:23 GMT)

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