On January 31, JPMorgan Chase's co-head of global markets, Jason Sippel, is departing the Wall Street firm, according to an internal memo reviewed by Reuters. Pranav Thakur has been appointed as the sole head of the business.

Sippel, who has spent 23 years at the bank, held various roles including expanding the prime brokerage business and managing global credit trading and public finance.

JPMorgan recently posted strong financial results on the back of a robust performance by its dealmakers and traders in the fourth quarter. The bank's Wall Street operations benefited from increased revenues in both fixed-income and equities businesses, offsetting a protracted downturn in dealmaking within the investment banking sector.

In 2024, JPMorgan's global markets division achieved a record revenue of $30 billion.

Thakur, who has been with the bank since 2007 and previously led the global macro markets division, was named co-head of the business in 2024, sharing the position with Sippel.