JPMorgan Investment-Banking Chair Hernandez to Retire Next Year

JPMorgan Chase & Co.’s Carlos Hernandez, executive chair of investment and corporate banking, plans to retire next year.

Hernandez will leave at the end of the first quarter after 36 years at the biggest US bank, according to an internal memo Monday from Chief Executive Officer Jamie Dimon and President Daniel Pinto. Until then, he will work with global investment-banking co-heads Jim Casey and Viswas Raghavan, to transition his responsibilities.

The 61-year-old executive joined a JPMorgan training program in 1986, and rose largely through the investment bank to his most recent post. He was named a ...