JP Morgan Prime Services Head To Step Down At Year End

Jun 29 2010 | 12:19pm ET

The global head of prime services at JP Morgan has announced that he is leaving the firm at the end of the year.

According to an internal memo obtained by Financial News, Richard Berliand is stepping down to spend more time with his family.

Berliand, who has spent 20 years with JP Morgan, led the integration of Bear Stearns' prime brokerage unit after that firm was acquired by JP Morgan.

Sandie O'Connor, also a 20-year plus veteran at the firm, will take over as prime services head. O'Connor will report to Carlos Hernandez, global head of equities, according to the memo.

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