JPMorgan Chase & Co. has announced new responsibilities for several senior executives as it continues to strengthen its position in global financial services. Daniel Pinto, the President and Chief Operating Officer, will retire at the end of 2026, relinquishing his responsibilities as of June 30, 2025. Jennifer Piepszak, Co-Chief Executive Officer of the Commercial & Investment Bank (CIB), has been named Chief Operating Officer of the company, effective immediately. Doug Petno, Co-head of Global Banking, will succeed Piepszak as Co-Chief Executive Officer of the CIB, and John Simmons, head of Commercial Banking, will succeed Petno and join Filippo Gori as the new Co-head of Global Banking.
Marianne Lake, CEO of Consumer and Community Banking, and Mary Erdoes, CEO of Asset & Wealth Management, will continue in their roles, and all corporate functions will be managed jointly by Piepszak and Chairman and Chief Executive Officer Jamie Dimon.
As of September 30, 2024, JPMorgan Chase had $4.2 trillion in assets and $346 billion in stockholders’ equity. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. JPMorgan Chase serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional, and government clients globally. The market has reacted to these announcements by moving the company's shares 0.8% to a price of $246.07. For more information, read the company's full 8-K submission here.
