Visa hires JPMorgan's Charles Scharf as CEO

Oct 24 (Reuters) - Visa Inc said Charles Scharf, a former head of JPMorgan Chase & Co's retail financial services division, will succeed Joseph Saunders as chief executive officer.

Scharf, whose appointment is effective Nov. 1, has also been appointed to the payment network's board.

Scharf is currently managing director at One Equity Partners, which manages $10 billion of investments and commitments for JPMorgan Chase.