JPMorgan Chase has named its chief marketing officer, Kristin Lemkau, as head of a new US wealth management division, leaving a question mark hanging over the parent company’s marketing leadership.
The Wall Street Journal today (11 December) reported the bank is creating a new unit that will appeal to those with up to $25m in assets. It will offer a combination of Chase’s financial advisory business and the company's US wealth management operations for affluent clients.
Lemkau, who was named as the Ad Club of New York’s marketer of the year, will head up the business, according to an internal memo seen by the Journal.
A spokesperson for the company said it had no immediate announcement to make on the future of the chief marketer job at JP Morgan Chase.
As of August 2019, the total marketing budget for its brands sat at $10bn.
It won’t be the first time Lemkau has shifted into unchartered territory at JPMorgan Chase. She originally joined in 1998 as a PR staffer and rose through the ranks before moving over to the marketing business.
She was named chief marketing officer in early 2014.