Insiders

JPMorgan says CEO transition is a top priority, cites potential Dimon successors

April 08, 2024 at 07:22 am EDT

(Reuters) - JPMorgan said on Monday that an orderly CEO transition is the top priority for its board in the medium term, as Jamie Dimon completes 18 years at the helm of the largest U.S. bank by assets.

The board is "spending significant time on developing operating committee members who are well-known to shareholders as strong potential CEO candidates," it said in a proxy statement.

They include Jennifer Piepszak and Troy Rohrbaugh, recently appointed co-CEOs of JPMorgan's expanded commercial and investment bank, consumer and community banking CEO Marianne Lake, and asset and wealth management CEO Mary Erdoes.

Meanwhile, President and Chief Operating Officer Daniel Pinto continued to be listed as the executive who could step in for the CEO in the near term, as he did in 2020 when incumbent CEO Jamie Dimon had an emergency heart surgery.

"Should the need arise in the near-term, we view Mr. Pinto as a key executive who is immediately ready to fulfill the responsibilities of the CEO," the statement said.

In his annual letter to shareholders on Monday, Dimon hailed U.S. leadership and economic power to shareholders, invoking "liberty and justice for all."

Dimon, who took the reins in 2006, is among a group of financial CEOs whose names have been floated for senior economic roles in government.

The Wall Street Journal last week reported that allies of former U.S. President Donald Trump were considering senior Wall Street executives, including Dimon, for the role of Treasury secretary.

JPMorgan's shares were marginally higher in premarket trading. It is set to report first-quarter results on Friday.

(Reporting by Manya Saini in Bengaluru and Lananh Nguyen and Nupur Anand in New York; Editing by Varun H K)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	JPMORGAN CHASE & CO.	193.3 USD	-0.11%	+2.04%	556B

Jamie Dimon

Mr. James Dimon is a Chairman & Chief Executive Officer at JPMorgan Chase Bank, NA and JPMorgan Chase & Co. and a Member at The Business Council. He became Chairman of the Board on December 31, 2006, and has been Chief Executive Officer and President since December 31, 2005. Mr. Dimon is on the Board of Directors of Harvard Business School and Catalyst; Chairman of the Business Roundtable; and a member of The Business Council. He is also on the Board of Trustees of New York University School of Medicine. He does not serve on the board of any publicly traded company other than JPMorgan Chase. Mr. Dimon was President and Chief Operating Officer following JPMorgan Chase’s merger with Bank One Corporation in July 2004. At Bank One, he was Chairman and Chief Executive Officer from March 2000 to July 2004. Before joining Bank One, Mr. Dimon held a wide range of executive roles at Citigroup Inc., the Travelers Group, Commercial Credit Company and American Express Company. He graduated from Tufts University and received an M.B.A. from Harvard Business School.

View full profile

Linked companies
JPMORGAN CHASE & CO.	Chief Executive Officer
JPMorgan Chase Bank, NA (Investment Management) JPMorgan Chase Bank, NA (Investment Management) Investment ManagersFinance JPMorgan Chase Bank, NA (Investment Management) (JPMC-IM) is the investment management division of JPMorgan Chase Bank, NA, ultimately held by JPMorgan Chase & Co. (NYSE: JPM), a global financial services firm. Headquartered in New York City, JPMC-IM provides asset management services for corporations, institutional investors, hedge funds, governments, healthcare organizations, educational institutions and affluent individuals.	Chief Executive Officer

Linked companies

JPMORGAN CHASE & CO.

Chief Executive Officer