JPMorgan promotion goes to possible Jamie Dimon successor Marianne Lake
Share and Follow

JPMorgan Chase has handed a new job to a top banker who is seen as a possible successor to its legendary, 69-year-old boss Jamie Dimon.

A source close to the bank’s leadership confirmed that Marianne Lake, the 55-year-old head of the financial giant’s consumer and community banking units, has been chosen to lead JPMorgan’s strategic growth office as well as its overseas consumer business.

In a memo addressed to staffers, CEO Dimon and president Daniel Pinto expressed their confidence in Lake’s ability to continue advancing the achievements of the two banking units as they aim to broaden their consumer franchise globally.

The news of Lake’s new responsibilities was first reported by Bloomberg News.

Having spent 25 years at JPMorgan and holding a degree from the University of Reading in the UK, Lake is considered the top candidate to succeed Jamie Dimon as the head of the firm once he steps down from his current position.

Other contenders include Doug Petno and Troy Rohrbaugh, co-CEOs of JPMorgan’s investment banking operations, and Mary Erdoes, who leads the firm’s asset and wealth management unit.

She is taking over her new role from Sanoke Viswanathan, 50, who in September resigned as the head of the bank’s international consumer and wealth unit to take over as CEO of FactSet, a financial data provider, according to the source.

Dimon and Pinto added that Viswanathan had “made an indelible and positive impact” on the bank, which had “greatly benefited from his entrepreneurial mindset.”

A veteran of more than three decades at JPMorgan, chief operating officer Jennifer Piepszak was seen as another name in the frame.

But she withdrew from the race to replace the current chief executive in January, insisting she did not want the top job.

On Monday, Dimon brushed off fresh questions from Fox Business anchor Maria Bartiromo about the company’s leadership succession plan, insisting that he was retirement was “several years away.”

The Queens native, who raked in $39 million last year as JPMorgan posted record profits, told the financial news network that he could stay on as executive chairman for a few years once he stands down as CEO.

“Obviously, it’s always up to God and the board,” Dimon told Bartiromo on Monday. “I love what I do.”

Speculation has swirled on Wall Street about Dimon’s future after his name was repeatedly floated as a possible Treasury Secretary pick during last year’s presidential campaign.

When the banking veteran told JPMorgan’s investor day in May of last year that his succession timeline was not five years anymore, it led to an immediate decline in the firm’s stock price.

Dimon also has another reason to stick around: the bank is building a $3 billion, 60-story headquarters at 270 Park Ave in midtown Manhattan that will include a yoga studio, a food court and even a pub.

He has been a vocal critic of working from home and is slowly forcing staffers back to the office five days a week, scrapping a Covid-era policy that he sees as leading to lower levels of productivity.

Share and Follow
You May Also Like
Who are the Texas flood victims?

Identifying the Individuals Affected by Flooding in Texas

At least 82 people were killed and dozens are missing after devastating flash…
Top Iranian cleric calls for Trump's execution

Top Iranian cleric calls for Trump’s execution

NEWYou can now listen to Fox News articles! A top Iranian cleric…
New flyer shows suspected killer dad may have changed appearance in wilderness manhunt: police

Manhunt for alleged killer dad reignited after campers report possible sighting over holiday weekend

NEWYou can now listen to Fox News articles! The manhunt for the…
Ryan Lochte goes Instagram-official with new woman amid divorce from Kayla Rae Reid
Ryan Lochte appears to have moved on romantically amid his divorce from…
After setback to Iran's nuclear program, Trump expected to leverage military support in Netanyahu meeting

After setback to Iran’s nuclear program, Trump expected to leverage military support in Netanyahu meeting

Hamas signals it may be ready to accept Israel ceasefire Fox News…
Former Army captain critically injured in Bahamas boating hit-and-run during family vacation: report

Former Army captain critically injured in Bahamas boating hit-and-run during family vacation: report

NEWYou can now listen to Fox News articles! A former Army captain…
Netanyahu and Trump discuss new ceasefire proposal for Gaza

Netanyahu and Trump talk about a new plan to stop fighting in Gaza

Negotiations have repeatedly stalled over how the war should end and when…
A Vermont dairy farm was raided. The mixed messages from Washington since then have increased fears

Confusion and Concern Rise After Raid on Vermont Dairy Farm

MONTPELIER, Vt. (AP) — After six 12-hour shifts milking cows, José Molina-Aguilar’s…