JPMorgan Chase names new head of retail brokerage

NEW YORK: JPMorgan Chase & Co named the head of its Latin America Private Bank as the new chief executive of its New York-based retail brokerage, JPMorgan Securities, the bank said on Thursday.

Chris Harvey takes over the post from Greg Quental, who will retire at the end of the year.

Harvey will oversee the boutique-style wealth management firm's roughly 420 financial advisers and the $110 billion in client assets they manage.

The bank said in an emailed statement that Harvey will manage overall strategy and growth for the brokerage division.

Quental, who joined JPMorgan from Bear Stearns in August 2010, had set a goal of growing the firm's adviser base to roughly 650 advisers by around 2016, according to an interview Quental gave Reuters in 2012.

JP Morgan Chase declined to answer questions beyond what was in the press release.