JP Morgan Reorganizes Labmorgan; O’Leary Steps Down, Gallo Steps Up
ORGANIZATION AND MANAGEMENT
NEW YORK--In light of the flagging economy and poor market for new technology initiatives, JP Morgan Chase is restructuring its Labmorgan unit, changing it from a venture company into a support group that will provide a technical infrastructure and improve efficiencies for its business units.
As part of the restructuring, Denis O’Leary is stepping down as Labmorgan co-head and joining the retail payments business under David Coulter, JP Morgan Chase’s retail banking head, says a source close to
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