JPMorgan in inside hunt for new head of Europe

JPMorgan has started an internal hunt for a new head of its European operations after the departure of its London-based co-head of investment banking Bill Winters.

He was effectively in charge of Europe for the US investment bank and while his successor will not be as senior, the bank needs someone to head its business in Europe, the Middle East and Africa.

Among the top London executives reported to be in the frame for the role are Klaus Diederichs, chairman of European investment banking; Anthony Best, global head of fixed income sales; and Daniel Pinto, global head of credit and emerging markets.

The new global head of investment banking Jes Staley has not decided how he will structure the business and has set no deadline for new appointments.

The new chief will have to deal with the future of the highly successful joint venture JPMorgan Cazenove, which is up for grabs next spring. JPMorgan has to decide whether to take full control of the corporate broker or continue to run it as a joint venture.