JPMorgan Chase & Co. named former UAL Corp. chief executive Glenn Tilton chairman of Midwest operations and a member of the banking company's executive committee.
Tilton led UAL's United Airlines through its merger with Continental to form United Continental Holdings Inc. -- combined, the largest U.S. airline by traffic. Previously, he spent 32 years with Texaco, completing the company's merger with Chevron Corp. in 2001.
The new role will see him leading the bank across businesses and functions in the Midwest, which JPMorgan chief executive Jamie Dimon said in a statement "is an important and growing region for our company." Tilton's roles will include recruiting, overseeing the firm's Midwest charitable contributions and government relations.
Tilton currently serves as nonexecutive chairman of United Continental and is a director at Abbott Laboratories and Corning Inc.
The move follows JPMorgan reporting in April its first-quarter profit jumped 67%, driven by strength in its investment bank and a marked improvement in credit quality. But its retail services business, which handles consumer and small-business clients, suffered a larger loss than a year earlier. And the overall results weren't driven by loan growth or traditional banking results, disappointing some analysts.
Matt Jarzemsky is a report for Dow Jones Newswires, where this story originally appeared. Write to him here.