J.P. Morgan Chase & Co. has appointed Sandie OConnor, head of Prime Services, as treasurer, according to an internal memo issued by Doug Braunstein, CFO, and Carlos Hernandez, head of Global Equities, and seen by Global Custodian.
In this role, Sandie will partner closely with the leaders of our lines of business to help manage the firm’s capital, balance sheet, liquidity and funding, as well as our rating agency relationships and insurance activities, the memo reads. OConnor joins the firm’s executive committee and will transition into her role immediately.
She replaces former treasurer Joseph Bonocore, who stepped down for personal reasons. Hernandez will be making an announcement soon about OConnors replacement as head of Prime Services, according to the memo.
O’Connor joined J.P. Morgan in 1988 as a trainee in the audit department. During her two and a half years in the auditing role, she spent most of her time with the capital markets businesses of the bank, which then encompassed foreign exchange, swaps and US Dollar money market trading. On the trading desk, she helped to build a centralized liquidity management function that aimed to cheapen the cost of funding for the bank by netting the bids and offers placed in the market by its different trading arms.
She headed the US Dollar desk for three years until moving to London in 1997 to help the firm prepare for the introduction of the euro in 1999. When she returned to New York three years later she served as treasurer of Morgan Guaranty Trust Company of New York through the merger of J.P. Morgan and Chase.
OConnor shifted from the investment bank to the securities services business in 2006, where she headed the financing and markets products group, overseeing securities lending, collateral management, transition management, US broker/dealer services, FX and depositary receipts.
She took over as head of Prime Services in 2010, during which time she helped launch a prime custody offering along with prime services in Europe and Asia. She has also served as co-chair of the Investment Bank Women’s Network.
For more on OConnor, see Sandie O’Connor, Global Custodian, Winter 2010.
(CG)