J.P. Morgan CEO for Australia & New Zealand steps into non-executive role

J.P. Morgan has announced that chief executive officer (CEO) for Australia and New Zealand, Rob Priestley, is stepping down from the top job to take on a non-executive role as the firm's new chair, effective immediately.

Priestley has spent more than 23 years at J.P. Morgan, including senior management roles in the Asia Pacific and EMEA regions.

He replaces former chair Rod Eddington, who is, in turn, stepping into a new role to establish the firm's Asia Pacific Advisory Council. Succeeding Priestley is Paul Uren, who takes on the role of CEO for Australia and New Zealand in addition to his responsibilities as head of global investment banking.

Commenting on Priestley's service to the firm, J.P. Morgan chair and CEO for Asia Pacific, Nicolas Aguzin, said: "Since returning to Australia in 2002 and under Rob's leadership our business has seen tremendous success and realised significant growth over the past 15 years in Australia and New Zealand."

"Rob has taken a strategic approach in building a diversified franchise that now includes representation from across J.P. Morgan's Corporate & Investment Bank, Asset & Wealth Management and Commercial Banking businesses with more than 1,100 employees on the ground."

Priestley added: "I have enjoyed building J.P. Morgan's business and believe now is the opportune time to hand-over management responsibilities and to focus on the next chapter of my career."