JPMorgan executives take center stage with succession, tariffs in focus
May 19 (Reuters) - JPMorgan Chase's (JPM.N), opens new tab top brass will take center stage at its investor day on Monday, with tariffs and a succession plan once again in focus.
Investors will be watching closely for signals on CEO Jamie Dimon's succession, as a slew of executives position themselves to take the helm at the Wall Street giant.
The event also comes at a pivotal time for the economy, with tariff-related disruptions in focus. While recent progress in trade talks between the White House and its partners has improved market sentiment, uncertainty still lingers.
Here are the top executives to watch —
JAMIE DIMON, CHAIR AND CEO:
After more than 19 years at the helm, Dimon remains deeply tied to the fortunes of the biggest U.S. bank.
While shareholders' focus has increasingly shifted to who might succeed him, past reactions indicate they are reluctant to see him go.
Dimon had said at JPMorgan's previous investor day last May that his succession timeline was not five years anymore, leading to an immediate decline in the stock price.
Speculation over the bank's succession had peaked around the U.S. presidential election last year, since Dimon was floated as a potential Treasury Secretary candidate.
Though that did not materialize, top executives have said the board remains focused on ensuring that a clear plan is in place.
Investors will also scrutinize his commentary for clues on where things are headed, especially as the economy looks to recover from tariff-related shocks. Though market sentiment has improved recently, concerns about what lies ahead remain.
MARIANNE LAKE, CEO, CONSUMER AND COMMUNITY BANKING (CCB):
A 25-year veteran of the bank, Lake oversees CCB, one of JPMorgan's main businesses that caters to 84 million consumers and 7 million small businesses in the U.S.
She "has all of the qualities of a great leader," Dimon has said, such as being demanding, drawing information out of people, recognizing talent and challenging Dimon when she believes he is wrong.
Lake served as the bank's CFO from 2013 to 2019. She is also seen as the top candidate to lead JPMorgan.
TROY ROHRBAUGH, CO-CEO, COMMERCIAL AND INVESTMENT BANK (CIB):
Rohrbaugh began his career as an options trader. A Goldman Sachs (GS.N), opens new tab alum, he joined JPMorgan in 2005.
Having risen through the ranks at JPMorgan's trading business, Rohrbaugh brings a strong markets pedigree. He co-headed CIB with COO Jennifer Piepszak, until Doug Petno took over from her earlier this year.
Under Rohrbaugh and Piepszak's stewardship, CIB fetched record revenues of over $70 billion last year.
DOUG PETNO, CO-CEO, COMMERCIAL AND INVESTMENT BANK:
Petno was made the co-CEO of CIB in January. Over his 35-year career at the bank, he has also co-headed global banking, a business with 76,000 clients across 45 countries.
He oversaw the integration of JPMorgan's commercial, corporate and investment banking businesses into one unit. He was also crucial in expanding its commercial banking footprint.
MARY ERDOES, CEO, ASSET AND WEALTH MANAGEMENT:
Erdoes joined JPMorgan more than 25 years ago and held several senior roles across asset and wealth management before becoming the unit's CEO in 2009.
The unit had $4.1 trillion of assets under management as well as $6 trillion of client assets at the end of the first quarter.
She also sits on the board of the U.S.-China Business Council, a nonprofit group aimed at promoting business collaboration between the two biggest global economies.
JEREMY BARNUM, CFO:
Barnum, who was once let go as part of a broad restructuring of JPMorgan's credit-trading business, has become one of the most public faces of the bank.
He is a regular fixture at conferences and fields most of the analysts' questions on quarterly earnings calls.
Barnum joined the bank in 1994 and has been the chief financial officer since 2021. He previously led global research for the CIB.
JENNIFER PIEPSZAK, CHIEF OPERATING OFFICER:
A veteran of more than three decades at JPMorgan, Piepszak was one of the frontrunners to succeed Dimon until she withdrew from the competition in January. However, she remains one of the key executives to watch out for.
As the COO, she now works closely with Daniel Pinto, Dimon's right-hand man, who is slated to step down in June.
Piepszak has been entrusted with leadership roles across JPMorgan's core businesses. She has been the co-CEO of the bank's two main business lines — CIB and CCB.
She was also the CFO from 2019 to 2021.
Source: Company website, Reuters stories
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