Matt Zames, the head of capital markets for JPMorgan Chase's mortgage banking division, as well as co-head of global fixed income in its investment bank, has been named the new chief investment officer for the company.
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He will retain his mortgage-related responsibilities in the new position, but Daniel Pinto will now be the solo head of global fixed income.
Zames has also been named to the company's operating committee.
He replaces Ina Drew, who is leaving JPMorgan Chase in the wake of the company's revelation that it lost $2 billion on a trading portfolio the company was using as a hedge.
In a press release, Jamie Dimon, chairman and CEO, called Zames "a world-class risk manager and executive, highly regarded for his judgment and integrity."
