DEC 18, 2012 6:16pm ET

JPMorgan Chase: Kevin Watters to Become CEO of Mortgage Banking

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JPMorgan Chase Tuesday said origination executive Kevin Watters would become its CEO of mortgage banking.

The company cited Watters’ role in returning mortgage banking to profitability in the move.

JPMorgan Chase recorded net income of $2.9 billion as of the third quarter for mortgage banking, up from a loss of $1.9 billion during the same period a year ago. Executives at the company have indicated fourth-quarter volumes have been strong as well.

JPMorgan Chase is integrating its mortgage banking unit with its consumer and community banking business lines.

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