Allison Biel, head of JPMorgan’s credit-card business, has told the bank she
will leave to take an external role, JPMorgan said in an internal memo from a
co-president. Biel runs one of the world’s largest credit-card franchises; the
bank will name a successor for cards and related merchant services in the coming
weeks. Biel joined JPMorgan in 2017 from American Express and led an expansion
of its card business, launching products targeted at travelers and high-spending
customers that directly competed with her former employer.
