Sue Dean, JP Morgan‘s head of treasury services sales for Europe, the Middle East and Africa since 2015, has been named head of the overall business in the region, according to a memo sent to staff on September 9 by Jeff Bosland, global head of treasury services.
Dean has worked at JP Morgan for close to 30 years, including an earlier stint leading its treasury services product management unit in Emea.
JP Morgan’s global treasury services business counts about 14,000 wholesale clients and handles $ 5 trillion in payments globally per day, according to its 2015 annual report.
Daniel Pinto, chief executive of JP Morgan’s corporate and investment bank, has described the unit as “an integral contributor” to the growth of his division. In the 2015 annual report, he cited research from external firms and the bank’s own teams that suggest the global treasury services revenue pool could almost double to $ 280 billion by 2024.
In her new role, Dean has replaced John Gibbons, who is leaving the bank.
She will report to Bosland and Viswas Raghavan, JP Morgan’s head of banking for Emea and deputy chief executive of the corporate and investment bank. Dean will also join the bank’s leadership team in Emea, which is led by Raghavan.
Jose Linares, JP Morgan’s Emea head of corporate banking, will name Dean’s replacement in her treasury services sales role in the coming weeks, the memo said. In 2014, JP Morgan integrated its treasury services sales and corporate banking teams.
Correction: Sue Dean was JP Morgan’s head of treasury services sales for Europe, the Middle East and Africa since 2015, not 2014 as stated in an earlier version of this article.