JPMorgan Chase & Co. (JPM:US), the largest U.S. bank by assets, named Kyril Courboin head of France, replacing Isabelle Seillier, who is becoming head of the firm’s financial institutions group for Europe, the Middle East and Africa.
Courboin, who joined JPMorgan in 1990 and currently heads the financial institutions team in Europe, will report jointly to Emilio Saracho, deputy chief executive officer of EMEA, and Viswas Raghavan, head of banking for the region, according to an internal memorandum to employees. The contents of the document were confirmed by a spokeswoman for the lender today.
Seillier, who joined the firm in 1993 and has been in charge of France since 2008, will be responsible for covering banks and other clients in the financial-services industry in the region. She will report to Raghavan.
JPMorgan combined its investment bank with the firm’s corporate bank and treasury and securities-services units last year, and named Raghavan head of banking for Europe as part of a revamp. Fourth-quarter revenue at the newly combined corporate and investment bank rose 21 percent to $7.6 billion, New York- based JPMorgan said last week, the first time it reported results of the entire group.
Courboin’s “knowledge of the financial sector is second to none, and his international profile will help further develop our business in France,” Raghavan said. “Isabelle has positioned JPMorgan as a top international bank in France, which will prove invaluable in her new regional role.”
Courboin has worked on deals including Credit Agricole SA’s 2003 acquisition of Credit Lyonnais and the privatization of Credit Industriel et Commercial. Seillier served as head of investment banking activities for France from 2005 to 2008.
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