Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
JPMorgan’s European chief, Filippo Gori, is planning to relocate from London to New York while maintaining his role running the bank’s Europe, Middle East, and Africa business. Gori, who also serves as JPMorgan’s co-head of global banking, moved to the UK from Hong Kong last year following a promotion to the dual role.
According to sources familiar with the situation, Gori is now in the process of moving to New York. It is reported that he will spend “at least half of his time” in Emea for the remainder of the year and will remain highly visible among employees and clients in the region. UK regulators have been aware of Gori’s potential relocation to the US since he was appointed chief executive of JPMorgan’s Emea business in 2024.
Gori’s move follows a trend of senior bankers overseeing UK-based operations from the US. Figures such as Sir Mark Tucker, chair of HSBC, and Barclays chief CS Venkatakrishnan, who splits his time between New York and London, exemplify this trend.
JPMorgan has undergone reorganization in its investment bank and shuffled leadership roles across the group as a few executives compete to succeed Jamie Dimon as chief executive. Gori, who spent over a decade in Hong Kong with JPMorgan before his promotion, now co-heads the bank’s global banking division alongside John Simmons.
Doug Petno, also promoted to co-head of JPMorgan’s global banking unit at the same time as Gori, was further promoted to co-lead the commercial and investment bank in January. Potential successors to Dimon include Marianne Lake, head of JPMorgan’s consumer bank, and Troy Rohrbaugh, co-head of the commercial and investment bank.
It is not uncommon for bankers to live and work in different locations, as per a source familiar with Gori’s move. As co-head of global banking, Gori would be frequently traveling regardless of his place of residence.
Both JPMorgan and Gori declined to comment on the relocation.
