JPMorgan Chase promotes Pranav Thakur to sole head of global markets

iNDICA NEWS BUREAU-

JPMorgan Chase’s co-head of global markets, Jason Sippel, is departing the Wall Street giant after 23 years with the firm.

Indian-origin Pranav Thakur has been named the sole head of the business, according to a Reuters report.

Sippel, who held various roles during his tenure, including expanding the firm’s prime brokerage business and overseeing global credit trading and public finance, will be leaving for another opportunity.

Earlier this month, JPMorgan reported a record annual profit, driven by strong performance from its dealmakers and traders, who benefited from a rebound in markets during the fourth quarter.

The bank’s robust trading results in both fixed-income and equities helped sustain revenue from its Wall Street operations, even as a prolonged downturn in dealmaking weighed on its investment banking unit.

JPMorgan’s global markets division ended 2024 with a record revenue of $30 billion.

Thakur, who joined JPMorgan in 2007 and most recently served as head of global macro markets, was named co-head of the global markets business in 2024 alongside Sippel.

(Photo courtesy: www.instagram.com/jpmorgan and www.emta.org)