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Longtime JPMorgan banker set to retire

Karen Simon, who leads JPMorgan Chase & Co.'s director advisory services division, will step down at the end of the summer, Bloomberg News reported Aug. 7, citing a memo it viewed.

A JPMorgan spokesperson confirmed the contents of the memo to Bloomberg and said the company has yet to find a replacement.

Simon started her career with the banking giant by joining one of its predecessors as an analyst in 1983, according to the report. She previously held high-level roles such as global head of the financial sponsor group and vice chairwoman of global oil and gas investment banking.