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JPMorgan Says Barry Sommers Leaves Wealth Management Job

David Frame will become chief of U.S. Wealth Management for JPMorgan Chase.

NEW YORK, Jan 29 (Reuters) - JPMorgan Chase & Co said on Tuesday that Barry Sommers, 49, is retiring as chief executive of its wealth management client business.

The announcement, in a memo from Mary Erdoes, CEO for Asset & Wealth Management, said that David Frame will become chief of U.S. Wealth Management and that Nicolas Aguzin, will handle Sommers’ international responsibilities.

Aguzin is currently head of banking for the Asia-Pacific region for JPMorgan’s Corporate & Investment Bank.

Frame is currently global head of client advice and strategy.

Sommers joined JPMorgan in 2008 when it bought Bear Stearns, where he worked. Sommers went on to run the Chase consumer bank and build its wealth management business before working for Erdoes.


(Reporting by David Henry in New York; Editing by David Gregorio)

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