JPMorgan Chase Appoints Co-Presidents, Igniting CEO Succession Race
Doug Petno and Troy Rohrbaugh named to new roles as Marianne Lake retires, signaling ongoing leadership planning.
JPMorgan Chase has appointed Doug Petno and Troy Rohrbaugh to newly created co-president roles, initiating a new phase in the search for a successor to CEO Jamie Dimon. The appointments, effective immediately, were announced Thursday.
Petno and Rohrbaugh have jointly led the bank's Commercial & Investment Bank since early 2024. As co-presidents, Petno will continue as the sole CEO of the Commercial & Investment Bank, while Rohrbaugh will take over as CEO of Consumer & Community Banking, succeeding Marianne Lake. Lake, who was previously considered a leading candidate to replace Dimon, is retiring from the company after a lengthy career.
These leadership changes are part of the board's continuous succession planning efforts aimed at ensuring strong leadership at the top of the nation's largest bank, according to a regulatory filing. A specific departure date for Lake beyond this leadership transition was not disclosed.