JPMorgan has tapped an internal executive, Ben Walter, to take the helm of its Workplace Solutions unit, according to an internal memo circulated at the bank. Walter will succeed Vince La Padula, who is departing after 23 years with the firm to accept a senior role at the Internal Revenue Service.
J.P. Morgan Workplace Solutions provides equity compensation and share plan services on a global basis. The business traces its most recent corporate identity to Global Shares, which the bank acquired in 2022 and subsequently integrated into its workplace offerings.
Walter joins Workplace Solutions from within the bank, where he most recently oversaw Chase for Business. That franchise serves more than 7.4 million small businesses across the United States. Before his tenure at JPMorgan, Walter held the position of global retail CEO at specialty insurer Hiscox and earlier worked at BlackRock and the Boston Consulting Group.
La Padula, who began at JPMorgan in 2004, played a leading role in establishing and building the workplace solutions organization following the acquisition of Global Shares. Mary Callahan Erdoes, CEO of J.P. Morgan Asset & Wealth Management, highlighted La Padula’s contributions in a statement, saying: "Over 23 years, he delivered outsized impact - including significantly expanding our lending franchise - and he helped position workplace solutions for long-term growth, doubling assets and participants in just three years."
The transition places Walter in charge of a unit that provides administration and services for equity compensation plans to corporate clients. His experience leading Chase for Business gives him direct exposure to a large base of small-business clients, while his prior roles at Hiscox, BlackRock and BCG add experience in retail, asset management and consulting contexts.
The internal memo announcing the appointment names Walter as the successor; it also confirms La Padula’s move to the Internal Revenue Service. The bank has framed the change as an internal succession and emphasized the growth that Workplace Solutions achieved under La Padula’s leadership.
Context and next steps
The memo indicates the leadership handoff within JPMorgan and notes the business’ recent growth metrics, but it does not provide additional operational detail about any strategic shifts Walter may pursue or a timetable for his formal start date in the new role. The bank has not released further comment beyond the internal communication and Erdoes’ statement.