JPMorgan Offers Peek at a Post-Dimon World

The banking world just got some clarity on who might succeed JPMorgan Chase as CEO when 70-year-old Jamie Dimon eventually leaves. The bank on Thursday named Doug Petno and Troy Rohrbaugh co-presidents, making them the clear front-runners, reports the Wall Street Journal. At the same time, another potential candidate exited the picture: exec Marianne Lake opted to retire after 25 years at the firm, notes CNBC.

Petno will now solely run the Commercial & Investment Bank, while Rohrbaugh shifts to lead Consumer & Community Banking, Lake's former post. The two have jointly overseen JPMorgan's commercial and investment banking operations since early 2024. The moves are "part of the Board's ongoing succession planning designed to ensure continued exceptional leadership at the highest levels of the company," said JPMorgan in a regulatory filing. Dimon, who has been CEO for two decades, has said his departure isn't imminent, but it's likely to happen within the next few years.