JPMorgan Chase has promoted insider Jennifer Piepszak, seen as a strong contender for CEO Jamie Dimon's role, as its chief operating officer in place of Daniel Pinto, who will retire at the end of 2026.
Piepszak is currently co-CEO of its commercial and investment bank. In her three decades at JPMorgan, she served as its finance chief from 2019 to 2021 and ran card services and business banking. The executive also spent 17 years climbing the ranks in investment banking.
Pinto, who will relinquish his responsibilities as of June 30, was previously cited by the board as the executive who could step in for the CEO in the near term, as he did in 2020 when Dimon had an emergency heart surgery.
Other than Piepszak, top contenders for the CEO job include Troy Rohrbaugh, who heads the commercial and investment bank, Marianne Lake, CEO of consumer and community banking and Mary Erdoes, CEO of asset and wealth management.
