JPMorgan’s Simmons to Head Mid-Market Banking as Walker Retires

JPMorgan Chase & Co. (JPM), the largest U.S. lender, promoted John Simmons to co-head of middle-market banking as Steve Walker plans to retire.

Simmons, 43, will become sole head at year-end and Walker, 64, plans to leave the company in 2015, New York-based JPMorgan said today in an e-mailed statement. The middle-market unit serves firms with annual revenues of $20 million to $500 million, according to the statement.

Simmons, previously co-head of the investment bank’s North America financial institutions group, will report toDoug Petno, chief executive officer of commercial banking.

To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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