J.P. Morgan Hires Merrill Manager to Run Atlanta, Shifts Chicago Complex Head
J.P. Morgan Securities is putting new leaders in two of its 16 regions, continuing a series of recent shifts in the Bear Stearns brokerage operation that it purchased during the financial crisis of 2008.
Sorrells could not be reached for comment.
In Chicago, J.P. Morgan has moved regional director Michael Maron to New York City in a new position aimed at helping the firm’s approximately 450 brokers comply with Regulation Best Interest, the new Securities and Exchange Commission standard that takes effect on June 30.
J.P. Morgan has not yet named a replacement for Maron, a 31-year industry veteran who joined the firm in 2009 from UBS Wealth Management. Maron did not return a call for comment.
A JPMorgan spokeswoman confirmed the management changes. A spokeswoman at Merrill did not respond to a request for comment about Sorrels’ replacement.
J.P. Morgan melded its 21-office brokerage unit into its broader bank branch-based wealth group for organizational purposes in December, but continues to operate it as a separate brand under J.P. Morgan Securities CEO Chris Harvey. The longtime Chase banker has overseen several changes among managers since taking the role three years ago.
He appointed James Lansing as New York regional director in October, replacing Michael S. Lee, who left in March 2019 for First Republic Bank. In 2018, James Dean was shifted from running J.P. Morgan Securities’ White Plains, NY, region to become Los Angeles regional director. He replaced Frank Epinger, who left J.P. Morgan after three-and-a-half years and now works at Wedbush Securities. Dean’s former offices are now run by Jason Stanco.