JPMorgan's (JPM) Dimon Plays 'Executive Roulette'; Biz Development Head to Leave

JPMorgan (NYSE: JPM) will be losing a key executive heading into its fourth-quarter earnings report Friday.

According to an internal memo retrieved by Reuters, strategy and business development head Jay Mendelbaum will be leaving the company.

Filling the void, Doug Petno was promoted to chief executive of commercial banking and Todd Maclin will shift focus on JPMorgan's consumer and business banking franchise.

Investment bank risk chief John Hogan will now oversee risk for the entire firm, and Barry Zubrow will move to corporate and regulatory affairs head.

Finally, Gordon Smith, the head of credit cards and auto lending, will now oversee three executives who previously reported to Mandelbaum and are responsible for corporate marketing, mobile and e-commerce, and the corporate internet group.

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