Chris Rowland was named global head of custody for J.P. Morgan Chase’s custody and fund services business, effective immediately, said a memo to company staff.
Mr. Rowland replaces Andrew Betts, who is leaving the company.
The memo said Mr. Rowland will report to Nick Rudenstine, managing director and global head of custody and fund services.
Mr. Rowland was head of fund services; he is retaining those duties.
Amanda Smith, J.P. Morgan spokeswoman, confirmed the contents of the memo and said the company would not comment on Mr. Betts’ departure. Efforts to reach Mr. Betts were unsuccessful.