JPMorgan Chase Names CEO Jamie Dimon's Potential Successors

By Jace Dela Cruz

Apr 09, 2024 04:41 AM EDT

The board of JPMorgan Chase has named the potential successors to CEO Jamie Dimon, signaling preparations for a leadership transition at the largest US bank.

In a proxy statement, the board said it is now focusing on "developing operating committee members who are well-known to shareholders as strong potential CEO candidates" in the medium term.

NEW YORK, NEW YORK - FEBRUARY 23: The JP Morgan Chase & Co. company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 23, 2024 in New York City.
(Photo : Michael M. Santiago/Getty Images)

Potential Successors to JPMorgan Chase CEO Jamie Dimon

According to Reuters, Jamie Dimon, 68, has managed JPMorgan Chase for over 18 years and has become one of the most influential business figures in the US.

Among the contenders for the top job are Jennifer Piepszak and Troy Rohrbaugh, who were recently appointed co-CEOs of JPMorgan's expanded commercial and investment bank, as well as Marianne Lake, CEO of consumer and community banking, and Mary Erdoes, CEO of asset and wealth management.

Dimon previously hinted that he could leave in three and a half years. However, Brian Mulberry, a client portfolio manager at Zacks Investment Management, believes that Dimon's departure could occur within five years.

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Another Potential Candidate For JPMorgan Chase CEO Position

JPMorgan Chase's President and Chief Operating Officer, Daniel Pinto, has also been recognized by the board as a suitable candidate to step in for the CEO in the near term.

Pinto showcased his preparedness to assume such duties when he temporarily assumed Jamie Dimon's responsibilities during his emergency heart surgery in 2020. 

"Should the need arise in the near-term, we view Mr. Pinto as a key executive who is immediately ready to fulfill the responsibilities of the CEO," the board said in the statement.

READ MORE: JPMorgan Chase Is Ready to Leave China if Ordered by US Government, Bank CEO Jamie Dimon Says

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