In This Article:
JPMorgan Chase CEO Jamie Dimon has held the top spot at the largest U.S. bank by assets for almost two decades, making him the longest-serving CEO on Wall Street today. And the bank just announced his leading successor’s own retirement.
Daniel Pinto, JPMorgan’s president and chief operating officer, will be stepping down from the role on June 30. Pinto, who has climbed the ranks at the bank for decades, was flagged by the bank’s board “as a key executive who is immediately ready to fulfill the responsibilities of the CEO.” He even briefly ran the bank when Dimon had emergency heart surgery in 2020.
With Pinto out of the picture, there’s an even bigger question mark when it comes to who could be next to lead America’s biggest bank as the 68-year-old veteran chief hints at an impending retirement. Dimon said at the company’s annual investor day last year that his timetable for retirement is now less than five years away.
Last year, the bank’s board of directors indicated that it’s going full steam ahead on its hunt for a successor. In its annual proxy statement in April, the board said it’s focused on future planning, “spending significant time on developing Operating Committee members who are well known to shareholders as strong potential CEO candidates.”
The bank underwent some major senior leadership reshuffling at the start of 2024, giving a number of key executives “new and increased responsibilities” and installing new leadership in key divisions — many of whom have stood out as potential replacements for Dimon.
Of the senior leaders, there are four leading candidates who could be tapped to fill Dimon’s shoes. Click through to see who could be next in line to helm the global bank.
Jennifer Piepszak
After being tapped to replace Pinto as president and COO starting June 30, Jennifer Piepszak has received new speculation as a potential top successor to Dimon.
But Piepszak “does not want to be considered for the CEO position at this time,” spokesperson Joe Evangelisti told Bloomberg. “Her clear preference is for a senior operating role working closely with Jamie and in support of top leadership going forward.”
Nonetheless, her new position and long history with the bank still makes her a leading candidate.
Piepszak has climbed the ranks at JPMorgan in her nearly three decades with the bank, playing a key role in integrating First Republic. She took over as CFO from Marianne Lake in May 2019, and stayed in the role for two years before being promoted to co-CEO of consumer and community banking alongside Lake. She currently co-leads the newly-merged commercial and investment bank with Troy Rohrbaugh.