Chase promotes CMO Lemkau to lead wealth management
As JPMorgan Chase looks to strengthen its wealth management division, it’s promoting from within. Kristin Lemkau, who had been Chase’s chief marketing officer, was named CEO of its U.S. wealth management business, the brand announced Wednesday. The new division is a combination of JPMorgan advisors across Chase Wealth Management and JP Morgan Securities, as well as Digital Wealth Management and You Invest, according to a spokesman.
“It’s a huge job,” he wrote via email, noting that the combined business will have more than $400 billion in assets under management, over 4,000 advisors dispersed through 3,500 branches and 21 offices.
Lemkau seems well positioned for the promotion. She is among the most well-known CMOs in the nation with several honors under her belt—she made Ad Age's list of top marketing executivesin 2016 and 2017. She rose through the ranks at Chase, starting with the bank in 1998 in global media relations. She was promoted to the top marketer gig five years ago, and has become an advocate for brand safety and price transparency in media buying.
According to the Chase spokesman, the bank intends to announce Lemkau’s replacement in a few weeks.
Last year, Chase spent $2.5 billion on advertising, according to Ad Age’s Datacenter.
News of Lemkau’s promotion was first reported by The Wall Street Journal, which noted that the new division is designed for consumers with up to $25 million in assets. Lemkau tweeted about her new role on Wednesday evening.