JPMorgan senior leader changes likely in search for Dimon heir
Halfway through Jamie Dimon’s special incentive to stay five more years atop JPMorgan Chase & Co., insiders are predicting more senior leadership changes to help potential successors gather experience.
A management shuffle in mid-2021 put two talented deputies — Jennifer Piepszak and Marianne Lake — into the spotlight as the board prepared to grant Dimon a bonus if he remains chief executive another half-decade. But with neither the clear frontrunner, colleagues say the two consumer-banking co-heads will likely need to tackle new assignments before one is ready to run the whole company.
Meanwhile, Piepszak has expressed reticence in the past about taking the top job, while Lake has at least entertained opportunities elsewhere, people familiar with the matter said, asking not to be identified discussing private talks. And Dimon shows no signs he views his retention package as a career closer.
Such is the endlessly evolving succession buzz atop the nation’s biggest bank, where life under 67-year-old Dimon is more profitable than ever, and life after him is just as hazy. The question of who might steward the firm is one that looms over the industry — offering its most prominent perch as well as responsibility for a $3.9 trillion balance sheet.
The limbo at JPMorgan compares with the crisp succession planning this year at Morgan Stanley, where longtime leader James Gorman, 65, announced he was ready to conduct a bake-off for his job. In the ensuing months, Gorman and the board reviewed a slate of viable candidates, made their pick and persuaded the others to stick around — setting up an unusually smooth hand-off for Jan. 1.
One key difference is that Gorman said he was eager to try something new. Dimon’s passion is
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