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Jamie Dimon succession race has two women ahead
of pack at JP Morgan
Marianne Lake and Jennifer Piepszak have been named as co-heads of consumer and community banking
The race to the financial world’s most prized throne -- Jamie Dimon’s perch atop JPMorgan Chase & Co. -- is
drawing closer to its long-awaited conclusion.
When the largest U.S. bank last shook up its leadership two years ago, about a half-dozen names appeared on
lists of Dimon’s potential heirs. But another overhaul announced Tuesday pushed two women toward the front of
the field: Marianne Lake and Jennifer Piepszak.
The bank named them co-heads of its massive consumer and community banking business, a spot that was held
by one of Dimon’s two lieutenants, co-President Gordon Smith, who’s retiring at the end of the year. The remaining
co-president, Daniel Pinto, is widely seen as the obvious replacement for Dimon in an emergency, but as a less
likely candidate in a slow and orderly handoff to the next generation.
The bank’s board has asked Dimon to remain in his role for a significant number of years, JPMorgan spokesman
Joe Evangelisti said Tuesday. That could mean another half-decade or so, a person with knowledge of the
“This time does feel different,” said Wells Fargo & Co. analyst Mike Mayo of the promotions. “One of the new two
heads of consumer is likely the ultimate next CEO of JPMorgan.”