Dec. 15 (Bloomberg) -- JPMorgan Chase & Co., the largest and most profitable U.S. bank, named Michael Cleary to a new position running the retail unit’s digital, online and mobile strategy.
“Customers’ use of Internet and mobile banking has skyrocketed,” Todd Maclin, the chief executive officer of JPMorgan’s retail unit, said in an internal memo to employees today. “In fact, three quarters of our customers actively use chase.com and active mobile households have more than doubled since the first quarter of 2010.”
Cleary, who previously ran small-business lending, will handle the retail bank’s Internet and mobile teams, according to the memo. He will work with Paul Heller, head of the corporate Internet group; Jack Stephenson, who runs mobile e-commerce; and Guy Chiarello, who supervises technology across the company. Maclin cited Cleary’s expansion of business banking in growth markets such as California, Florida and Texas.
Scott Geller, chief risk officer for New York-based JPMorgan’s commercial bank, will replace Cleary in overseeing lending to companies with less than $20 million in annual revenue. A successor for Geller is being sought, Maclin wrote. The retail bank lends money to businesses with less than $20 million in annual revenue while the commercial bank lends money to middle-market companies with revenue of $20 million to about $2 billion.
Patrick Linehan, a spokesman for JPMorgan, confirmed the contents of the memo.
--Editors: Rick Green, David Scheer
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