Veteran banker and business leader Peter Barker '70 P'01, former chair of the Board of Trustees for Claremont McKenna College, has been named Chairman (California) of JPMorgan Chase & Co. He has worked as an investment banker for more than 30 years and has served on a number of philanthropic and corporate boards, including his current role as chairman of The Robert Day School Board of Advisors at CMC.
In a statement released by Jamie Dimon, chairman and CEO of JPMorgan Chase, Dimon said Barker will "help us continue to build the J.P. Morgan and Chase businesses in the state." The firm's investment, private and corporate banks have served California customers for many years, as have the credit card and home lending businesses.
Last year, JPMorgan Chase purchased Washington Mutual's 700 branches and 1,900 ATMs in California, the release noted.
Barker will serve on JPMorgan Chase's Executive Committee and will work closely with fellow California-based executives to serve clients, interface with California state officials, and coordinate and leverage the bank's businesses.
"JPMorgan Chase has an excellent team here, and I hope that my overall market perspective will help connect lines of business so we can serve more clients and grow our California businesses," said Barker, whose role in the company became effective Sept. 28.
Barker began his career with Goldman Sachs in London in 1971, then moved to New York and on to Los Angeles. In 1982, he became the partner heading up the firm's investment banking activities on the West Coast, working directly with corporations across industries on debt and equity financings, acquisitions, divestitures, recapitalizations, spin-offs and initial public offerings. He served as an advisory director from 1998 through 2002, and has worked on a variety of philanthropic and corporate activities, as well as, private investments since then.
He serves on the corporate boards of Avery Dennison and Fluor Corporation as well as the boards of W.M. Keck Foundation, Claremont McKenna College, the Huntington Library, and the Fletcher Jones Foundation, where he is president of the board. He earned an M.B.A. from the University of Chicago.
(More on Mr. Barker)