Magazine article American Banker

Executive Changes

Magazine article American Banker

Executive Changes

Article excerpt


J.P. Morgan Invest LLC of Boston, the online brokerage subsidiary of J.P. Morgan Chase & Co., has promoted Kenneth Klipper to chief executive officer.

Mr. Klipper had been the chief financial officer since joining the unit in January, when it was Brown & Co. Securities Corp. (The name was changed in April.)

Before that he had been an executive vice president and the CFO of Tucker Anthony Sutro Corp. He left the Boston brokerage firm after Royal Bank of Canada bought it in 2001. (Tucker Anthony was merged into RBC Dain Rauscher the next year.)

Earlier Mr. Klipper had been a senior vice president and the CFO of National Financial Services LLC and Fidelity Brokerage Services LLC, the major broker dealers of FMR Corp., better known as Fidelity Investments.


KeyBank of Cleveland has named presidents for two of its divisions, home equity services and education resources.

Allen L. Wehrhahn is the home equity division's new head. He was the chief administrative officer for the KeyCorp unit's consumer finance group. He has 20 years of financial services experience.

Beth D. Rosenberg is the new president of the education resources division. She was the executive vice president of Key's customer service program. She has 19 years of financial services experience.

KeyCorp has also named Michael Cacciaguida as the president of its Champion Mortgage Co. He will be based in Parsippany, N. …

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