JPMorgan Chase & Co has named Win Bischoff as chairman of its main legal entity for its corporate and investment bank in Europe, the Middle East, and Africa, JPMorgan Securities.

Bischoff will assume his new role in January 2015, replacing Tom Hoppe.

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In his new role, Bischoff will monitor the firm’s strategy, executive management, performance and standards of conduct and is central to its international governance.

Bischoff recently joined the board of the US bank’s European entity as a non-executive director and has become lead independent adviser of the oversight committee at its London branch.

Bischoff’s move comes as regulators in the US and UK have been pushing foreign banks to strengthen their international governance and follows investigations over manipulation of benchmark interest rates and foreign exchange trading.

Bischoff is chairman of the UK’s Financial Reporting Council. He works as chief operating officer of Coalition, a business consultancy.

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Prior to this, he served at Lloyds Banking Group Plc (LLOY) as chairman from 2009 to 2014 and also as an interim chief executive of Citigroup in 2007. He was also the group chief executive and then chairman of Schroders, an asset management company based in Britain.

Daniel Pinto, CEO of the corporate and investment bank and head of JPMorgan in EMEA, said: "The non-executive directors of JPMS are central to our firm’s international governance, providing an independent perspective and input to the overall way we run our business. They monitor the firm’s strategy, executive management, performance and our standards of conduct."