Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

JPMorgan’s Petno Takes Commercial Bank Post, Succeeded by Stein

Oct. 13 (Bloomberg) -- JPMorgan Chase & Co., the second-biggest U.S. bank by assets, named Douglas Petno chief operating officer for commercial banking.

Petno was previously head of investment banking for natural resources companies, JPMorgan said in an internal memorandum on Sept. 30. Its contents were confirmed by spokeswoman Tasha Pelio.

A veteran investment banker, Petno advised Exxon Mobil Corp. on its $31 billion purchase of XTO Energy Inc., and has been part of the JPMorgan team counseling BHP Billiton Ltd. this year on its $40 billion hostile pursuit of Potash Corp. of Saskatchewan.

Petno is being replaced by Eric Stein, previously head of investment banking in North America for clients in “diversified industries” such as General Electric Co., JPMorgan said in the memo. Kelly Coffey, the former head of corporate derivatives marketing for North America, takes Stein’s role.

To contact the reporter on this story: Zachary R. Mider in New York at zmider1@bloomberg.net;

To contact the editor responsible for this story: Jennifer Sondag at jsondag@bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.