SCOOP: IRS lands highly regarded J.P. Morgan executive Vince La Padula for senior role

The Internal Revenue Service is adding another seasoned private-sector executive to its leadership ranks, with longtime JPMorgan Chase executive Vince La Padula leaving the banking giant to take a senior role reporting to IRS CEO Frank Bisignano.

A senior Republican Senate source told the Washington Reporter, “This is a huge win for the IRS and shows that Frank Bisignano is delivering on his promise to make the IRS more fair and more efficient. This is the type of talent that the Biden IRS could never land–good for Frank to get this win for the Administration and for America.”

La Padula brings 23 years of leadership experience at one of the world’s largest financial institutions, where he built a reputation for driving growth, leading complex organizations, and helping businesses expand employee ownership. His arrival is expected to bolster Bisignano’s effort to bring private-sector discipline and operational excellence to an agency that Republicans have long argued needs stronger management and a greater focus on results.

Most recently, La Padula served as CEO of J.P. Morgan Workplace Solutions, overseeing a business that helps companies manage equity compensation and employee ownership programs. During his tenure, the business doubled its assets and participants in just three years following JPMorgan’s acquisition of Global Shares.

Before leading Workplace Solutions, La Padula held several senior leadership positions across JPMorgan, including helping significantly expand the firm’s lending business. Colleagues credited him with combining strategic vision with a record of execution.

“Over 23 years, he delivered outsized impact,” said Mary Callahan Erdoes, CEO of J.P. Morgan Asset & Wealth Management. “He helped position Workplace Solutions for long-term growth, doubling assets and participants in just three years.”

La Padula also brings prior public-sector experience. Former New York City Mayor Michael Bloomberg said La Padula helped modernize technology during Bloomberg’s administration, improving accountability and the delivery of city services.

Business leaders across the country praised the appointment.

Red Apple Group Chairman and CEO John Catsimatidis called La Padula “perfectly suited” for public service, citing his “honesty and integrity” over more than two decades at JPMorgan.

Real estate developer Rick Caruso praised La Padula’s “tireless work ethic, unwavering integrity, and commitment to keeping his word,” while Florida Panthers owner Vinnie Viola said his return to government is “a significant win for our country.”

La Padula’s appointment also continues Bisignano’s effort to recruit accomplished executives with real-world management experience to help transform the IRS. Since taking over the agency, Bisignano has emphasized operational efficiency, customer service, and modern management practices, drawing on decades of leadership in the private sector.

JPMorgan simultaneously announced that Ben Walter will succeed La Padula as CEO of Workplace Solutions. Walter previously led Chase for Business, serving more than 7 million small businesses nationwide, and also held senior leadership roles at Hiscox, BlackRock, and Boston Consulting Group.

For the IRS, adding another executive with decades of experience managing large organizations and delivering measurable results represents a significant addition as the agency continues its modernization efforts under Bisignano’s leadership.

The Reporter recently broke news of J.P Morgan hiring Republican communications expert Patrick McCann from Sen. Tom Cotton (R., Ark.).