Global financial services giant JPMorgan Chase this week appointed Stacey Friedman, currently general counsel of the company's corporate and investment bank, as general counsel of the firm. She will assume this role from Steve Cutler early next year, when he will be appointed vice chairman of the firm.

Friedman will report to Cutler and act as his deputy for the rest of this year. When her new role becomes effective, she will join the company's firm-wide operating committee. Both Cutler and Friedman will report to Chairman and CEO Jamie Dimon in their new roles.

Friedman JPMorgan Chase three years ago from Sullivan & Cromwell, where she spent more than a year working full-time with the bank on matters ranging from mortgage-backed securities to its purchase of Washington Mutual.

In his role as vice chairman, Cutler will act as a senior advisor to Dimon and other executives across the firm, as well as to the company's board of directors. "He will continue to assist on complex legal issues, including key matters that are already in progress," the company stated. "Cutler is expected to advise on important corporate governance and shareholder matters, as well as regulatory issues and culture initiatives."