JP Morgan Payments head Takis Georgakopoulos to step down after 17 years at the bank
Takis Georgakopoulos has announced that he is stepping down from his role as global head of JP Morgan Payments, a position he has held for the last seven years, stating he has “decided to pursue a very exciting opportunity outside the firm (to be announced in due course)”.
Takis Georgakopoulos to step down as global head of JP Morgan Payments (Image: LinkedIn)
First announced by Reuters on Monday, an internal memo revealed that Georgakopoulos, who first joined JP Morgan back in 2007 and also sat on the organisation’s operating committee, was set to leave the business.
Reflecting on the outgoing executive’s tenure, Jennifer Piepszak and Troy Rohrbaugh, co-heads of JP Morgan’s Commercial and Investment Bank (CIB), noted in the memo that Georgakopoulos has played a key role in helping JP Morgan Payments “become one of the firm’s biggest growth engines, increasing revenue and market share in a highly competitive environment”.
In response to Georgakopoulos relinquishing his position, Umar Farooq and Max Neukirchen have been appointed as co-heads of global payments, effective immediately.
Farooq has served as CEO of Onyx by JP Morgan, the bank’s blockchain-focused business unit, for the past three years. Meanwhile, Neukirchen currently holds the position of global head of payments and commerce solutions.
Commenting on the incoming pair, Georgakopoulos says he has “no doubt that under two of my talented former lieutenants … the business will do even better”.
