JPMorgan Appoints New Chair and GM for Its China Securities Arm

JPMorgan Chase & Co. has appointed Lu Fang as the new chair of its China securities division, replacing former chair Park Pu. This appointment, confirmed by a company spokesperson, follows an internal memo circulated on Wednesday and reviewed by Reuters.

Greg Yu, previously the deputy general manager of J.P. Morgan Securities China Company, has been promoted to general manager. Yu will now oversee the unit’s daily operations and manage regulatory relationships, in addition to continuing his role as head of Equities for the company.

The China securities unit, which became a wholly-owned subsidiary in 2021 after transitioning from a joint venture, employed 210 staff in China at the end of 2022, making it one of the largest foreign securities firms in the country. It handles various banking operations, including investment banking and securities brokerage. Both appointments took effect immediately, pending regulatory filings, according to the company memo. Park Pu, who chaired the China division for nearly a decade, will now serve as a senior advisor to the firm.

As the new chair, Lu Fang will oversee the company’s overall management, local governance, and strategic agenda. The bank noted that these leadership changes are part of its ongoing commitment to strengthening its presence and operations in China.