JPMorgan announced on Friday the retirement of its Asia-Pacific chairman, Ralph Parks. The move was viewed in some quarters with surprise, since Parks had been given a new role as recently as July. It was at that time that the US bank had stated that Parks would ôfocus all his resources on clients and to develop strategic opportunities for JPMorgan in the region, including potential joint venturesö.
At that time Parks had stepped down as CEO, but retained the chairmanÆs role. He was replaced as CEO by Gaby Abdelnour, who was transferred by JPMorgan from its European operations.
Parks, who has 30 years of investment banking experience and was formerly with...
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