Exclusive-JPMorgan payments chief Georgakopoulos to leave, according to memo

By Nupur Anand

NEW YORK (Reuters) – JPMorgan Chase’s global head of payments, Takis Georgakopoulos, is leaving to pursue other opportunities after leading the $10 trillion-a-day business since 2017, according to an internal memo seen by Reuters on Monday.

Max Neukirchen and Umar Farooq have been appointed as his successors.

Georgakopoulos had been with the bank for 17 years and is credited expanding its payments business. He sat on the firm’s operating committee of top leaders.

“During his tenure, the business has become one of the firm’s biggest growth engines, increasing revenue and market share in a highly competitive environment,” Jennifer Piepszak and Troy Rohrbaugh, co-heads of the commercial and investment bank, wrote in an internal note to employees.

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Revenue for the payments business stood at $2.4 billion in the first quarter, higher than the $2 billion revenue brought in from investment banking.

(Reporting by Nupur Anand in New York; Editing by Lananh Nguyen)