Citigroup veteran Lisa Davis to lead digital commercial payments at JP Morgan

In a bid to give a boost to its commercial payments business, JP Morgan Chase & Co has hired Citigroup Inc veteran Lisa Davis to oversee various digital products of the investment banking company’s businesses, Reuters reported.

According to the report, prior to joining JP Morgan, Davis spent 22 years at Citigroup where she headed the bank’s start up incubator within its institutional clients group.

Davis will succeed Sairam Rangachari as head of channels as he moves to a new role within the bank, an internal memo signed by Hubert JP Jolly, global head of payments for Wholesale Payments, said.

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Jolly joined JP Morgan in April after leading Bank of America Corp’s global commercial banking, global transaction services and channels.

JP Morgan also said in April that it was hiring the head of cryptocurrency trading platform Bakkt, Mike Blandina, as its new head of wholesale payments technology.