NEW YORK — J.P. Morgan Chase announced today that Mark O’Donovan was named CEO of Chase Auto Finance. He replaces Thasunda Duckett, who was named CEO of Consumer Banking last month.

O’Donovan, a 20-year veteran of the bank, previous served as controller. In a letter Chase CFO Marianne Lake and CEO Gordon Smith distributed to employees, the executives said the bank will now begin a search for O'Donovan's successor.

“Among his many skills, Mark is known as a great manager leading large global teams. He will make an excellent CEO for Auto Finance,” the executives stated in the letter.

“Our auto business has been performing very well, delivering 20 consecutive quarters of loan and lease growth,” the letter continued, in part. “During that time, the team has consistently improved client satisfaction and was recently named the top-rated bank in J.D. Power’s 2016 Dealer Financing Satisfaction Study.”