Hernan Cristerna, global co-head of M&A at JPMorgan Chase (JPMC), is set to retire from banking, the organisation has confirmed.

Cristerna started in his current role in 2020, having worked at JPMC for over 30 years. During his time as JPMC’s chief dealmaker, Cristerna oversaw mergers and acquisitions including InBev’s 2008 acquisition of Anheuser-Busch and Saudi Aramco's acquisition ⁠of the chemical manufacturer Saudi Basic Industries Corporation (SABIC) in 2019.

In a memo sent to employees seen by Reuters, Filippo Gori and John Simmons, ​co-heads of global banking at JPMC, said: “Hernan has had a lasting impact across the ​firm, particularly in (Europe, Middle East and ​Africa), through his leadership and mentorship of many ‌individuals ⁠across the firm.”

JPMC yesterday named Mark O'Donovan as its new head of human resources, taking over from industry veteran Robin ‌Leopold who is also set to retire. The current chief executive of international consumer banking at JPMC, O’Donovan will relocate to New York for the role.

At a senior level, JPMC is undergoing further changes. Seniormost among these is the reported succession planning for Jamie Dimon, with sources having told Reuters that Dimon is actively looking for a successor while planning to remain in post for up to three more years.

In June, JPMC also announced Doug Petno and Troy Rohrbaugh co-presidents of the company in June. The following month, it appointed Michael Flynn as head of small-cap investment banking.

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