JP Morgan Chase appoints new Global Head of Regulatory Strategy

JP Morgan Chase said on Friday Timothy Ryan Jr. will join the company as Global Head of Regulatory Strategy after he retires from the board of Lloyds Banking Group.

JP Morgan Chase said on Friday Timothy Ryan Jr. will join the company as Global Head of Regulatory Strategy after he retires from the board of Lloyds Banking Group.

Ryan will step down from Lloyds on April 18th before starting at the UK financial services company.

"Tim has been on our board for the last four years and his deep banking knowledge as well as his broad international banking industry expertise has been of great value to the group at a time of considerable regulatory and industry change," Chairman Sir Winfried Bischoff, Chairman, said in a statement.

"His contribution will be much missed by us all and we wish him well in his new responsibilities."

The announcement follows news a senior executive at Lloyds was forced to quit his job after he blew the whistle on failures in the bank's IT system that would have cost £200m to fix.

Stephen Clements, 51, the former head of the business continuity at Lloyds Banking Group, has filed a legal suit against the company over claims there was a deliberate cover-up of mistakes to avoid the cost of repairing the problem and the damage to the bank's reputation.

The bank denies all his claims and the tribunal continues.

Clements quit his £130,000-a-year job as head of business continuity at the bank in July.

Recommended

Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022
Invest in VCTs: tax-free investments set to break records
Investment strategy

Invest in VCTs: tax-free investments set to break records

Generous tax breaks make VCTs – venture capital funds – an attractive supplement to pensions.
21 Jan 2022
HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022

Most Popular

Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022
US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022