JP Morgan Securities has appointed Sir Winifried Bischoff as non-executive chairman of its board.
Pending final board approval, Bischoff will become chairman in January 2015.
Bischoff has already been appointed non-executive director and lead independent advisor of the oversight committee of JP Morgan Chase Bank’s London branch.
He replaces current chairman Tom Hoppe, whose tenure expires at the end of the year.
Bischoff is former chairman of Lloyds Banking Group and was chairman and interim chief executive of Citigroup in 2007.
JP Morgan chief executive of their corporate and investment bank Daniel Pinto told employees in an internal memo: “Sir Win will also serve on the Directors’ Risk Policy Committees for the JPMS and JP Morgan Europe Limited Boards, the Emea Governance Review Committee and as a member of the firm’s EMEA Audit and Compliance Committee.
“He has substantial experience leading international boards across a range of industries in the UK, Asia and the US, particularly in finance.”