JPMorgan Chase & Co.'s Mike Weinbach, chief executive officer of the home-lending business, is departing the firm after 16 years.
Weinbach, who
Lake praised Weinbach for "leading home lending through a period of significant change as we put our regulatory issues behind us and worked to build a high-quality, less-volatile business." A spokeswoman confirmed the contents of the memo.
JPMorgan plans to dismiss several hundred workers from the consumer unit next week as it reins in costs, people briefed on the matter have said. Revenue from home lending