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.
43 Articles
43 Articles
View: Don’t read the Dimon succession tea leaves
Jamie Dimon elevated two new CEO candidates as a third leaves the bank. Is the clock actually ticking this time?For those trying to read the tea leaves in JPMorgan’s latest executive reshuffle, which will see Marianne Lake exit and two executives, Troy Rohrbaugh and Doug Petno, promoted to co-presidents, don’t stare too hard. Lake, most recently the CEO of JPMorgan’s consumer bank, is at least the eighth JPMorgan executive since 2013 to be promo…
J.P. Morgan Chase reconfigured the race for the eventual successor of the bank's executive president, Jamie Dimon, with the promotion of Doug Petno and Troy Rohrbaugh to co-chairs, while announcing the retirement of senior executive Marianne Lake, widely regarded by Wall Street as one of the leading candidates for office. The changes in leadership reduce the number of senior executives long regarded as Dimon's successors, who, after two decades …
Associated Press News
JPMorgan Chase promotes Petno, Rohrbaugh to copresidents, setting up two more successors for Dimon
JPMorgan Chase promotes Doug Petno and Troy Rohrbaugh to copresidents, positioning them as potential successors to the bank's longtime CEO Jamie Dimon.
Fox Business
The New York LedgerJPMorgan names 2 new co-presidents, setting up race to succeed Jamie Dimon
The race to succeed America's top banker is on.Sources inside JPMorgan Chase, the nation's top bank, say the elevation of two senior executives Doug Petno and Troy Rohrbaugh as co-presidents of the company, sets up a long-awaited horse race to succeed the voluble Jamie Dimon, its CEO for the past two-plus decades and widely regarded as the nation's top banker.As if to leave no doubt about his intentions, Dimon Thursday also announced that Marian…
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