News Column

BRIEF: JPMorgan's Midwest Chairman Glenn Tilton to leave

June 10, 2014

By Becky Yerak, Chicago Tribune

June 10--JPMorgan's Midwest Chairman Glenn Tilton is retiring at the end of June, according to an internal memo.

Before joining JPMorgan, Tilton was the CEO of United Airlines.

The bank said that Tilton "played a critical role working across our business to build ties to clients and communities in the Midwest and to leverage firm assets to meet their needs."

The memo was signed by JPMorgan Chairman and CEO Jamie Dimon, as well as Doug Petno, CEO of Chase commercial banking.

"His deep relationships, unique leadership experience and strong reputation in the U.S. and internationally enabled him to be a well-regarded and effective ambassador of the firm," it read.

The memo said his "extensive ties to the region, including in business, government and philanthropy, helped to strengthen our company, collaborate with community partners and build our brand."

Chase said it will "look to transition his extensive activities."

Chase spokeswoman Christine Holevas said the bank doesn't have a time frame to replace him.

The news of Tilton's departure was first reported by Crain's Chicago Business.

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Source: Chicago Tribune (IL)

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