JPMorgan Chase announced on 14 January 2025 that Daniel Pinto, its President and Chief Operating Officer, will relinquish those responsibilities as of 30 June 2025 and retire at the end of 2026. Jennifer Piepszak, Co-Chief Executive Officer of the Commercial & Investment Bank (CIB), was named Chief Operating Officer with immediate effect.
Pinto, who joined a predecessor firm in 1983 and has served the company for more than 40 years, informed Chairman and Chief Executive Officer Jamie Dimon of his decision to retire. He will continue to serve as Vice Chairman, working closely with and advising the CEO and other senior executives on key projects, client relationships and complex issues facing the firm.
NEW OPERATING STRUCTURE
Piepszak will work closely with Pinto over the coming months. As COO she will manage and coordinate technology, operations, the chief administrative office, data and analytics, corporate strategy, and diversity, equity and inclusion across the company, and will oversee the firm's global corporate centres in India and the Philippines, which employ more than 80,000 people.
Doug Petno, Co-head of Global Banking, succeeds Piepszak as Co-CEO of the CIB, partnering with Troy Rohrbaugh to run the business. John Simmons, head of Commercial Banking, becomes Co-head of Global Banking alongside Filippo Gori. Marianne Lake continues as CEO of Consumer and Community Banking and Mary Erdoes as CEO of Asset & Wealth Management.
A JPMorgan spokesman said Piepszak had made clear her preference for a senior operating role and did not want to be considered for the chief executive position at this time.
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