JPMorgan Chase & Co announced this Thursday that it has a new Chief Executive Officer (CEO) for its Asia Pacific operations – Filippo Gori, who is taking over the reins from Nicolas Aguzin, who is now leading the bank’s international private bank.
As the CEO of the APAC region, Gori will be overseeing JPMorgan’s strategy and operations for the bank across 17 markets in the region, according to a memo sent internally and viewed by multiple news outlets.
Gori has been with JPMorgan for two decades now, having joined in January of 2000, his LinkedIn profile shows, as a graduate in Europe.
Over the past 20 years, he has made his way up through the ranks. During his tenure, he spent seven years in Hong Kong and has held a number of roles within JPMorgan’s corporate and investment bank and in asset and wealth management. Most recently, he was the deputy CEO for the APAC region, underneath Aguzin.
As the CEO of the APAC region, Gori, who is a 45-year-old Italian, will report to Mary Erdoes, who is the CEO for asset and wealth management and Daniel Pinto, the bank’s co-president.
According to the memo, Gori will assume the position of APAC CEO in addition to his current responsibilities as head of banking in APAC and the CEO of JPMorgan’s operations in Hong Kong.
JPMorgan in China
Gori takes over the APAC region as the bank is moving to control 100 per cent of its futures joint venture in China. As , towards the end of last year, JPMorgan applied to win an auction to purchase the shares needed for a majority equity stake in its Chinese futures joint venture, pending regulatory approval.
The lender is bidding for 5 per cent of J.P.Morgan Futures Co., a joint venture between the bank and its local partner. JPMorgan currently owns 49 per cent.