JP Morgan Chase said its general counsel, Stephen Cutler, will step down from his current role and become vice chairman of the firm early next year.

Stacey Friedman, general counsel of the bank's corporate and investment bank, will replace Cutler, who helped the bank deal with numerous regulatory investigations and settlements since the crisis. For the rest of this year, Friedman will report to Cutler as his deputy. She will join the bank's operating committee next year when her new role begins.