From CNBC:

JPMorgan Chase announced changes to its executive lineup on Jan. 25, 2024, with several leading frontrunners for the role of eventual CEO Jamie Dimon taking on new or expanded roles. Jennifer Piepszak, co-head of JPMorgan’s consumer bank, will now head the commercial and investment bank with Troy Rohrbaugh. Marianne Lake will become CEO of the consumer bank branch. It is unclear who is a front-runner to take over from Dimon, who is 67 years old, and resign anytime soon.

The ongoing succession race at JPMorgan has seen executives Piepszak, Lake, Rohrbaugh, and Takis Georgakopoulos, considered potential successors. The reshuffling sees Piepszak and Troy Rohrbaugh running a new commercial and investment bank division that includes operations previously run by Doug Petno. Daniel Pinto, formerly the CEO of the corporate and investment bank, will now be the bank’s president and chief operating officer.

The changes give Piepszak and Lake more experience in the running, but it remains uncertain if Dimon plans to leave soon. The moves have been made to give the leading contenders for the CEO position new experience and expanded roles within JPMorgan. The uncertainty has led some of Dimon’s deputies to seek out other opportunities due to impatience related to the top job’s availability.

How the new line-up will affect JPMorgan’s abiltiy to leverage its wide reach and status as the nation’s largest bank reflects questions among its investors and customers. Although an official frontrunner for Dimon’s position has yet to be announced, these alterations to the company’s leadership structure are certainly a significant move for the bank.



Read more: JPMorgan Chase shuffles top leaders under Jamie Dimon