Winters and Masters rise in JP Morgan Chase reshuffle

Two long-standing JP Morgan derivatives veterans, Bill Winters and Blythe Masters, have received additional responsibilities at JP Morgan Chase, following a reshuffle at the US bank.

Winters was named co-chief executive of JP Morgan Chase’s investment bank, JP Morgan. Previously he was co-head of credit and rates and deputy head of the investment bank. Meanwhile, Blythe Masters – head of credit policy, strategy and portfolio management – was named chief financial officer of JP Morgan.

The moves came as JP Morgan Chase chairman and chief executive William Harrison named David Coulter executive chairman of investment banking – he previously held the title of chief executive.

Coulter’s promotion prompted some market participants to speculate that he might challenge Bank One chairman and chief executive Jamie Dimon as the future heir to Harrison's role.

JP Morgan Chase is currently buying Bank One for $58 billion.