JPMorgan promotion goes to possible Jamie Dimon – Business News
JPMorgan Chase has handed a new job to a high banker who’s seen as a possible successor to its legendary, 69-year-old boss Jamie Dimon.
Marianne Lake — the 55-year-old head of the financial giant’s shopper and group banking items — has been tapped to run JPMorgan’s strategic growth workplace in addition to its abroad shopper business, a source close to the bank’s management confirmed.
In a memo to staffers, CEO Dimon and president Daniel Pinto wrote that Lake “will continue to build on the achievements of the two banking units “as we expand our consumer franchise beyond the US.”
Marianne Lake, a JPMorgan 25-year veteran, is seen as the primary frontrunner to take over from Jamie Dimon when he ultimately leaves as CEO. REUTERS
The information of Lake’s new obligations was first reported by Bloomberg News.
A 25-year veteran of JPMorgan and a graduate of the UK’s University of Reading, Lake is seen as the primary frontrunner to take over from Jamie Dimon when he ultimately leaves the firm’s high job.
Other contenders embody Doug Petno and Troy Rohrbaugh, co-CEOs of JPMorgan’s investment banking operations, and Mary Erdoes, who leads the firm’s asset and wealth management unit.
She is taking on her new function from Sanoke Viswanathan, 50, who in September resigned as the pinnacle of the bank’s worldwide shopper and wealth unit to take over as CEO of FactSet, a financial information supplier, in accordance to the source.
Dimon and Pinto added that Viswanathan had “made an indelible and positive impact” on the bank, which had “greatly benefited from his entrepreneurial mindset.”
A veteran of more than three many years at JPMorgan, chief working officer Jennifer Piepszak was seen as one other identify within the body.
Troy Rohrbaugh (left) and Doug Petno, proper, are the co-CEOs of JPMorgan’s investment banking operations and hotly tipped to take over Jamie Dimon when he ultimately calls it a day. JPMorganChase
But she withdrew from the race to change the present chief government in January, insisting she didn’t need the highest job.
On Monday, Dimon disregarded recent questions from Fox Business anchor Maria Bartiromo concerning the company’s management succession plan, insisting that he was retirement was “several years away.”
The Queens native, who raked in $39 million final 12 months as JPMorgan posted document earnings, instructed the financial information community that he may keep on as government chairman for a few years as soon as he stands down as CEO.
Dimon shrugged off questions on his future in an unique interview with Fox Business on Monday, insisting that his retirement date was nonetheless “several years away.” Fox Nation
“Obviously, it’s always up to God and the board,” Dimon instructed Bartiromo on Monday. “I love what I do.”
Speculation has swirled on Wall Street about Dimon’s future after his identify was repeatedly floated as a possible Treasury Secretary choose during final 12 months’s presidential marketing campaign.
When the banking veteran instructed JPMorgan’s investor day in May of final 12 months that his succession timeline was not 5 years anymore, it led to an rapid decline within the firm’s stock price.
Sanoke Viswanathan, 50, will take over as CEO of FactSet, a financial information supplier, this September JPMorganChase
Dimon additionally has another excuse to stick round: the bank is building a $3 billion, 60-story headquarters at 270 Park Ave in midtown Manhattan that can embody a yoga studio, a food court docket and even a pub.
He has been a vocal critic of working from home and is slowly forcing staffers back to the workplace 5 days a week, scrapping a Covid-era coverage that he sees as main to decrease ranges of productiveness.
