JPMorgan Chase’s global head of payments, Takis Georgakopoulos, is set to leave the bank after 17 years to pursue new opportunities, as reported by Reuters, referencing an internal memo.
He will be succeeded by two current JPMorgan executives: Max Neukirchen, the global head of payments and commerce solutions, and Umar Farooq, CEO of the blockchain division Onyx.
During Georgakopoulos’s leadership, JPMorgan’s payments division has flourished, processing $10 trillion daily and generating $2.4 billion in revenue in the first quarter, surpassing investment banking earnings.
In an internal communication, Jennifer Piepszak and Troy Rohrbaugh, co-heads of the commercial and investment bank, noted, “During his tenure, the business has become one of the firm’s biggest growth engines, increasing revenue and market share in a highly competitive environment.”