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JPMorgan names co-presidents, setting up new horse race to succeed CEO Jamie Dimon
New York Post • • general
Key Points:
- JPMorgan Chase appointed Doug Petno and Troy Rohrbaugh as co-presidents, marking a significant step in succession planning for CEO Jamie Dimon’s eventual departure.
- Marianne Lake, previously seen as a leading CEO candidate, announced her retirement, while other potential successors like Jennifer Piepszak and Mary Erdoes have withdrawn or are out of the running.
- Petno and Rohrbaugh, who have jointly led the Commercial & Investment Bank since early 2024, will now head the bank’s two largest divisions, with Petno overseeing Commercial & Investment Bank and Rohrbaugh leading Consumer & Community Banking.
- CEO Jamie Dimon, 70, praised the appointments and indicated a potential transition out of his CEO role could begin this year, though he may remain chairman indefinitely.
- Under Dimon’s leadership since 2006, JPMorgan has grown into a highly profitable, systemically important financial institution, successfully navigating crises and maintaining a largely scandal-free reputation.
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