JPMorgan Chase & Co.'s Vince La Padula, who led the firm's workplace solutions business, will leave the bank after more than two decades to take a senior role at the Internal Revenue Service.
Processing Content
Ben Walter, who previously oversaw Chase for Business within the firm's consumer and community banking arm, will take over as head of the workplace solutions operation, according to an internal memo Thursday. A JPMorgan spokesperson confirmed the contents of the memo.
President Donald Trump's administration has pulled from the finance industry to bolster its ranks. He tapped hedge fund manager Scott Bessent to run the Treasury Department. Ben Black, the son of Apollo Global Management Inc. co-founder Leon Black, now works as chief executive officer of the US International Development Finance Corp.
Last year, Trump tapped Frank Bisignano to lead the IRS as CEO, a new position at the agency. Bisignano previously worked at firms including Fiserv Inc. and JPMorgan.
La Padula helped build up JPMorgan's business managing equity compensation plans, which was bolstered in 2022 by the acquisition of Global Shares. Walter joined JPMorgan nearly five years ago from Hiscox Ltd.
In the memo Thursday, Mary Callahan Erdoes, the longtime head of JPMorgan's asset and wealth management business, called La Padula an "exceptional leader" and wished him luck in his next role. She said Walter is a "proven builder," adding that "we are excited to have him bring that same customer-first mindset to workplace solutions as we enter our next chapter."
