JPMorgan names Doug Petno and Troy Rohrbaugh co-presidents as longtime exec Marianne Lake exits
The bank said the promotions expand both executives’ oversight of its two largest businesses as Jamie Dimon continues succession planning.
- On Thursday, JPMorgan named Doug Petno and Troy Rohrbaugh Co-Presidents, marking a major step in CEO Jamie Dimon's succession planning while announcing the retirement of longtime executive Marianne Lake.
- The Board's ongoing succession planning prompted these moves as CEO Jamie Dimon, 70, marks his 20th year leading Wall Street's largest bank and has said multiple executives can eventually become CEO.
- Petno assumes sole leadership of the Commercial and Investment Bank, while Rohrbaugh will lead the consumer banking division, giving both executives broader management experience at the firm's two largest operating businesses.
- Lake, a 25 year veteran of JPMorgan who served as a potential Dimon successor since 2013, decided to retire; Dimon praised her as an "outstanding partner and friend" who delivered results.
- By rotating leadership roles across the firm's largest divisions, JPMorgan aims to prepare executives for potential CEO responsibilities; Rohrbaugh will expand his expertise by learning consumer banking to broaden his resume.
20 Articles
20 Articles
JPMorgan Chase promotes Petno, Rohrbaugh to copresidents, setting up t
NEW YORK (AP) — JPMorgan Chase promoted investment bankers Doug Petno and Troy Rohrbaugh to copresidents of the bank, elevating two additional potential contenders to succeed Jamie Dimon whenever the longtime CEO step downs from running the nation’s largest bank . The bank also announced Thursday that Marianne Lake, who had held several top positions in the company including chief financial officer and CEO of the consumer banking division, will …
Jamie Dimon succession race heats up as JPMorgan names two frontrunners for top job
With Marianne Lake stepping down, JPMorgan elevates Doug Petno and Troy Rohrbaugh as co-presidents, marking a crucial phase in the race to succeed Wall Street’s longest-serving banking chief Jamie Dimon.
Jamie Dimon, one of the Wall Street gurus and president of JP Morgan, prepares the ground for his succession to head the largest American bank. The entity has reported on Thursday the appointment of Doug Petno and Troy Rohrbaugh as new co-chairs after the departure of the bank of veteran Marianne Lake, the executive who so far led the bets to succeed Dimon.
We just got a better idea of who might succeed Jamie Dimon as JPMorgan CEO
JPMorgan CEO Jamie DimonTom Williams/CQ-Roll Call, Inc via Getty ImagesJPMorgan gave its biggest clue yet as to who might succeed longtime CEO Jamie Dimon.Investment bank co-CEOs Doug Petno and Troy Rohrbaugh will become the firm's new co-presidents.Dimon, who turned 70 in March, has been JPMorgan's boss for two decades.JPMorgan has named two new co-presidents, the biggest hint yet as to who might replace longtime CEO Jamie Dimon.On Thursday, th…
Coverage Details
Bias Distribution
- 47% of the sources lean Left, 46% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
