JP Morgan shuffles executives

JP Morgan Chase chief executive Jamie Dimon said yesterday that long-time colleague Jay Mandelbaum is leaving the company and that he is shifting the responsibilities of several operating executives. Mandelbaum, 49 years old and head of strategy and business development, has left to pursue other interests, Dimon said in a memo to staff. Doug Petno, 46, has been promoted to chief executive of commercial banking and Todd Maclin, who was doing that job, will now focus entirely on the consumer and business banking franchise.