JPMorgan Chase shuffles top leaders as race to succeed Jamie Dimon drags on

JPMorgan Chase on Thursday said several executives considered frontrunners to one day take over for CEO Jamie Dimon had new or expanded roles.

Jennifer Piepszak, co-head of JPMorgan’s giant consumer bank, will now became co-head of the firm’s commercial and investment bank along with Troy Rohrbaugh, a veteran leader of the bank’s trading operations.

Piepszak’s former partner, Marianne Lake, will transition from consumer banking co-head to being its sole CEO, JPMorgan said.

The moves should give Piepszak and Lake more experience as the long-running succession race atop the nation’s largest bank drags on. When they were made co-heads of consumer banking in 2021, Piepszak and Lake were considered favorites to eventually succeed Dimon, who is now 67 years old. That year, the bank’s board gave Dimon a special bonus to retain his services for a “significant number of years.”

It wasn’t immediately clear if there is a frontrunner for the job after the latest set of changes, and it isn’t clear if Dimon intends to leave anytime soon. Lake and Piepszak have both previously served as the bank’s CFO.

Rohrbaugh and global payments chief Takis Georgakopoulos round out the short list of potential successors, according to a person with knowledge of the bank’s planning.

This story is developing. Please check back for updates.