Jacob Frenkel steps down as JP Morgan International chairman
Frenkel, who served as governor of the Bank of Israel between 1991 and 2000, has decided to retire to spend more time with his family and pursue other professional activities, the firm said.
By EYTAN HALONChairman of JPMorgan Chase International Jacob Frenkel attends a conference during the 2016 IIF G20 Conference at the financial district of Pudong in Shanghai, China, February 25, 2016(photo credit: REUTERS/ALY SONG)
Former Bank of Israel governor Jacob Frenkel will step down as chairman of JPMorgan Chase International at the end of the year, the bank announced on Monday.Frenkel, who joined the New-York headquartered multinational in 2009, will continue to serve the firm as a senior adviser.“We have benefited greatly from his experience and counsel over the years, particularly as we have grown and invested in our businesses internationally,” said JPMorgan Chase’s chief executive Jamie Dimon and co-president Daniel Pinto in a joint memo to staff.“We look forward to continuing our productive relationship with Jacob in his new capacity.”Frenkel, who served as governor of the Bank of Israel between 1991 and 2000, has decided to retire to spend more time with his family and pursue other professional activities, the firm said.During his time at JPMorgan Chase, Frenkel also served as chairman and CEO of the international consultative body Group of Thirty (G30), and currently serves as chairman of its board of trustees.“Over the years, bankers have tapped his insights and expertise on key policies, providing clients – from central banks to sovereign wealth funds – with a unique perspective as they navigate the global markets,” Dimon and Pinto said.
