NEW YORK (AP) — JPMorgan Chase promoted investment bankers Doug Petno and Troy Rohrbaugh to copresidents of the bank, elevating two potential contenders to succeed Jamie Dimon whenever the longtime CEO step downs from running the nation’s largest bank.
The bank also announced Thursday that Marianne Lake, who had held several top positions in the company including chief financial officer and CEO of the consumer banking division, will retire at the end of the year. Lake was long thought to be a potential person to take over the company when Dimon retired.
The promotion of Petno and Rohrbaugh is a sign that JPMorgan’s board is looking to its commercial and investment banking ranks as it develops the next generation of leadership, even as Rohrbaugh will now move over to run the bank’s giant consumer business. Petno and Rohrbaugh both ascended JPMorgan’s ranks through the…
