Sir Win Bischoff’s swift return in new JP Morgan role

 
Bischoff is currently chair of the Financial Reporting Council accounting standards body
Bloomberg
Russell Lynch12 August 2014

Sir Win Bischoff was today set to make a comeback at US bank JP Morgan just four months after stepping down as chairman of taxpayer-backed Lloyds Banking Group.

He will become the chairman of the bank’s main legal entity in Europe, JP Morgan Securities, from next January with the task of bolstering the group’s internal governance and challenging senior managers on strategy and performance.

He is currently chair of the Financial Reporting Council accounting standards body and a non-executive director of McGraw Hill, owner of ratings agency Standard & Poor’s.

Sir Win began his 50-year banking career at Chase Manhattan in the early 1960s, before he rose to chief executive and then chairman of Schroders.

He became Citigroup chairman in 2007 followed by Lloyds in September 2009, overseeing the rebuilding of the business following the financial crisis and its disastrous HBOS takeover. Sir Win will replace JP Morgan veteran Tom Hoppe.

JP Morgan’s European operations have around 15,000 staff and produced more than $15 billion (£8.9 billion) in revenues across 33 countries last year.

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