March 15, 2016 / 7:51 PM / 4 years ago

JPMorgan names Youngwood to fill consumer banking CFO post

NEW YORK, March 15 (Reuters) - JPMorgan Chase & Co has named its head of investor relations, Sarah Youngwood, to be chief financial officer of its Consumer & Community Banking segment, according to a memo distributed to employees on Tuesday and seen by Reuters.

Youngwood, 41, replaces David Owen, who was promoted last month to be chief administrative officer for the entire company.

In January 2012, Youngwood was put in charge of investor relations and a few months later the company’s London Whale trading scandal erupted and damaged its reputation. She was also in the job when Chairman and CEO Jamie Dimon and his allies campaigned to win shareholder votes and defeat proposals calling for different people to hold his two posts.

During her tenure the bank has been ranked first for investor relations among large financial institutions in surveys by Institutional Investor magazine.

Youngwood previously worked for 14 years in investment banking in the financial institutions group where she led the firm’s coverage of the mortgage industry, including during the financial crisis.

She will manage the investor relations team through JPMorgan’s release of results in April while the bank moves to name a successor, the memo said.

Consumer & Community Banking is the biggest of JPMorgan’s four business segments by revenue and provided 40 percent of its net income in 2015. (Reporting by David Henry in New York; Editing by Bernard Orr)

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