Gaby Abdelnour, chief executive officer of JPMorgan Chase & Co. (JPM)’s business in the Asia-Pacific region, is leaving after 14 years with the company, according to an internal memo obtained by Bloomberg News.
Abdelnour told JPMorgan he plans to depart “this summer to pursue personal interests,” according to the document. Marie Cheung, a spokeswoman for JPMorgan in Hong Kong, confirmed the memo’s contents and declined to comment further.
During his tenure in Asia, JPMorgan has doubled revenue and tripled its net income from the region, and has “completed the major build-out” of its China platform, according to the memo. The document is signed by the New York-based bank’s CEO Jamie Dimon and Jes Staley, who heads its investment banking business.
Abdelnour was tapped to run the firm’s Asia-Pacific business in July 2006. Under his leadership, JPMorgan set up a securities joint venture in China, bought a stake in a trust and a guarantee company, and established a locally-incorporated bank there.
Before joining JPMorgan, Abdelnour worked as a mergers banker at Merrill Lynch & Co. in Hong Kong and Singapore. Prior to that, Abdelnour spent 10 years at Bankers Trust where he was a managing director in the Merchant Banking Group focusing on mergers and acquisitions, leveraged buyouts and private equity, the memo said.
Abdelnour graduated with a degree in engineering from Lehigh University, and has a master’s in business administration from New York University.
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