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JPMorgan Chase COO Zames to leave; seen as Dimon successor

NEW YORK (AP) — Matt Zames, a top executive at JPMorgan Chase once seen as a potential successor to CEO Jamie Dimon, will be leaving the company in the next few weeks.

Dimon made the announcement Thursday in a memo to employees.

Zames, a 13-year veteran at the company, had been JPMorgan’s chief operating officer for the last five years. Before he took the COO role in 2012, Zames was in the bank’s investing division and was tasked with cleaning up the business after the London Whale trading scandal in which huge losses were booked through the London office of JPMorgan’s chief investment office.

Dimon did not say why Zames is leaving the company. Zames’ responsibilities will be split among other executives on JPMorgan’s executive committee, Dimon said.

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