Rivas, who previously ran the financial institutions group, was one of JPMorgan's lead negotiators in its purchase of failed First Republic Bank in May. He will be replaced by Jay Horine, who is currently the global industry co-head for energy, power and renewables, metals and mining (EPRM), according to the memo.
Horine will also continue to be the global industry co-head of EPRM.
The bank also appointed several global heads for industry groups reporting to Jim Casey and Vis Raghavan, who jointly lead global investment banking, effective immediately.
JPMorgan also formed a new digital banking group run by Samik Chandarana that will draw on technology platforms, data science and artificial intelligence to serve clients, the memo said.
Chandarana was previously chief data and analytics officer for the corporate and investment bank.
Here is a list of global investment banking industry coverage heads who have been elevated to global roles as part of the organizational change:
