JPMorgan Chase & Co. has announced the appointment of two new co-presidents, while Marianne Lake, a long-time senior executive widely seen as a potential successor to CEO Jamie Dimon, will be departing the firm.
According to the announcement, Lake, who serves as CEO of Consumer & Community Banking, will leave the company. Her position will be taken over by Troy Rohrbaugh.
Concurrently, both Rohrbaugh and Doug Petno have been promoted to the role of co-president at JPMorgan. Petno will also become the sole Chief Executive Officer of the Commercial & Investment Bank.
This move signifies that the two executives are now positioned to engage in a fresh competition for the opportunity to eventually succeed Dimon in leading the banking giant.
Dimon stated in the announcement, "The changes announced today represent a significant step in the board's thoughtful work on succession planning and developing our senior leadership team. We are extremely fortunate to have an outstanding senior management team, not only at the Operating Committee level but throughout the organization."
It is noteworthy that Lake is the latest senior manager to withdraw from the race to succeed Dimon. Previously, in 2025, JPMorgan appointed Jenn Piepszak as its new Chief Operating Officer, making her a key second-in-command under Dimon. However, prior to accepting that role, Piepszak had clearly indicated she would not be a contender for the CEO position.
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