Contender rises in JP Morgan's top ranks

JP Morgan Chase, the biggest bank in the United States, named Matt Zames sole chief operating officer as Frank Bisignano left to become the chief executive of First Data Corp.

"Zames is expanding his role," JP Morgan chairman and chief executive Jamie Dimon said in an internal memorandum.

Paul Compton, a co-chief administrative officer of the corporate and investment bank, will become the chief administrative officer and report to Zames, according to the notice.

via Business feed http://www.scmp.com/business/banking-finance/article/1226129/contender-rises-jp-morgans-top-ranks