JPMorgan Chase has shuffled three top executives in credit cards, mortgages and mortgage servicing.
Eileen Serra, 61, the chief executive of the Chase Card Services unit, will step down in January and become an adviser to the company on growth initiatives, according to a memo Wednesday from Gordon Smith, JPMorgan's CEO of consumer and community banking.
Serra, who has led the card services unit for nearly 10 years, prompted the changes by asking "to better balance her time…with the many other interests in her life," Smith said in a memo.
Kevin Watters, the current CEO of mortgage banking, will take Serra's place as CEO of card services. Watters started his career at the company in 1999 and has held senior management positions in business and digital banking.
Mike Weinbach, the current head of mortgage servicing, will become CEO of mortgage banking, replacing Watters. Weinbach is a former head of sales for consumer banking and a former chief financial officer of consumer banking.
"One of the things that is great about these changes is the disciplined approach that [Chairman and CEO] Jamie [Dimon] and Gordon take to succession planning," Weinbach said Wednesday. "We've all worked together across many of the Chase businesses and we want to deliver a great customer experience."
A successor to Weinbach will be named in the coming weeks, Smith's memo said.
