JPMorgan Chase & Co.’s William “Bill” Winters, co-chief executive officer of the investment bank, is leaving the company. Steve Black, who served alongside Winters overseeing the investment bank, will become executive chairman of the unit, the company said today in a statement on Business Wire. Jes Staley, who runs the asset-management unit, has been named CEO of the investment bank, the bank said. “With the credit crisis largely behind us and the economy recovering, the timing was right to begin the succession process,” Jamie Dimon, chairman and CEO of the New York-based bank, said in the statement. “We want to thank Bill for his exceptional service to this firm and wish him the best.” Staley, 52, joined JPMorgan in 1979 and worked in the investment bank for 20 years, moving to run the asset-management business in 2001. Mary Callahan Erdoes, CEO of the private bank, will succeed Staley in managing the fund business. Winters, 48, and Black, 57, said in January they would forgo cash and stock bonuses for 2008. To contact the reporter on this story: Christine Harper in London at charper@bloomberg.net.

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