Mark Leung, the China CEO of JPMorgan Chase & Co., is set to retire at the end of 2024 after a 25-year tenure with the bank. During his leadership, which began in 2018, JPMorgan’s revenue in China doubled, and the bank achieved full ownership of its securities and futures companies following China’s financial market liberalisation. His departure, amid challenges for global banks in China due to economic slowdowns and geopolitical tensions, marks a significant exit in the industry. JPMorgan, under Leung’s guidance, became the first foreign bank to fully own a securities business in China. This move comes as the bank and its global competitors face profit pressures and workforce reductions in the country. Leung’s career with JPMorgan started as a fixed income trader in Hong Kong.