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.
