Steve Black, who co-ran JP Morgan's investment bank for five years and played a key role in the bank's acquisition of Bear Stearns at the height of the financial crisis said he plans to leave the company early next year.

A longtime ally of chief executive Jamie Dimon, Black was named vice chairman of the bank in February after a management shuffle last year moved Jes Staley into the top job at the investment bank. Staley had previously run JP Morgan's asset management division.