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JPMorgan Chase Swipes Goldman CFO Overseeing Marcus

JPMorgan Chase Swipes Goldman CFO Overseeing Marcus

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PYMNTS.com
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https://www.pymnts.com/personnel/2021/jpmorgan-chase-swipes-goldman-cfo-overseeing-marcus/
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PYMNTS
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Sherry Ann Mohan, chief financial officer at Goldman Sachs for its consumer unit, is exiting the bank to join JPMorgan Chase as its new CFO, CNBC reported on Friday (May 14), citing an internal memo. At Goldman, Mohan was in charge of the Marcus brand and the Apple Card.

Mohan is the latest in a series of departures from Goldman Sachs that started in February when Omer Ismail hit the road for Walmart’s FinTech startup Ribbit Capital. Mohan’s exit comes after a 15-year tenure with the investment firm.

She is expected to join JPMorgan in August and Goldman employees will be advised today of the personnel change, according to the memo that was exclusively seen by CNBC, the news outlet said.

At JPMorgan, Mohan will report to retail CFO Sarah Youngwood, who is in charge of business banking, according to the memo, CNBC reported.

Other exits from Goldman Sachs in recent months include Marcus product head Sonali Divilek, who left for JPMorgan after being promoted at Goldman after executive Adam Dell walked away. Additional executives and management leaving Goldman Sachs included Eric Lane, co-head of the firm’s asset management division, general counsel Karen Patton Seymour, and global communications chief Jake Siewert, according to CNBC.

Earlier this month, JPMorgan expanded its C-suite with James Reid as chief information officer — the bank’s first Black CIO. Melissa Goldman was named CIO for the renamed Finance, Risk, Data and Controls technology unit. The new name for the division is Employee Experience and Corporate Technology. It will target innovative system updates that the company’s 250,000 employees will use.

JPMorgan said last month that the intersection of consumer spending and debit card use points to a sound post-pandemic recovery. The bank’s CFO Jennifer Piepszak expects a continuation of low delinquencies amid encouraging economic data.

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May 14, 2021 at 06:22PM
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