JPMorgan appoints co-heads of commercial banking Sable and Smith

By Nupur Anand

NEW YORK (Reuters) -JPMorgan Chase appointed Matt Sable and Melissa Smith as co-heads of commercial banking, the largest U.S. lender said on Friday, as it continues to reorganize the unit.

The move follows a broader leadership reshuffle last month in which Jennifer Piepszak was named as chief operating officer to succeed Daniel Pinto.

Piepszak previously served as co-head of the commercial and investment bank. After her promotion, John Simmons was elevated to run global banking alongside Filippo Gori, leaving a vacancy for Simmons’ leadership of commercial banking.

Sable and Smith will lead a commercial banking business that serves more than 70,000 clients across 154 locations in the U.S. and Canada. They will report to Simmons and Gori.

Sable, an over two-decade JPMorgan veteran, most recently led the financial institutions group in global corporate banking.

Smith, who has been with the bank for nearly three decades, served as its head of specialized industries and co-head of innovation economy for middle market banking.

The commercial bank focuses on companies ranging from early-stage startups to midsize corporations, government entities, not-for-profit organizations and commercial real estate investors.

(Reporting by Nupur Anand in New York, editing by Lananh Nguyen, Chris Reese and Nick Zieminski)