JPMorgan Chase has picked Matt Kane as its new chief executive to head its commerce solutions division.
Kane will report to Gordon Smith, CEO of consumer and community banking. He is replacing Mike Passilla, who was chosen as the company’s chief executive in May 2013 to oversee development of Chase Paymentech and other merchant-focused offerings.
“Matt is an extremely accomplished and versatile executive, who will build on the strong momentum in commerce solutions,” said Smith. “I am glad Mike Passilla will continue to play a key leadership role in the business working with Matt and the commerce leadership team.”
Before being promoted to the new chief executive, Kane headed Chase’s business development for card services division, where he was a lynchpin in securing various co-brand deals and improving Chase Pay relationships. Previously, he has also worked in different senior roles in risk, general management and marketing.
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