JPMorgan's Daniel Pinto to Step Down in June, Retire by 2026; Jennifer Piepszak Named COO

Jan 14, 2025, 02:11 PM

JPMorgan Chase & Co. has announced that Daniel Pinto, its President and Chief Operating Officer, will step down from his roles in June and retire at the end of 2026. Jennifer Piepszak, a 30-year veteran at the bank and currently co-CEO of its commercial and investment bank, will succeed Pinto as the new COO. Piepszak, who previously served as the bank's Chief Financial Officer from 2019 to 2021, has stated that she does not wish to be considered for the CEO position at this time. This leadership transition comes as part of JPMorgan's ongoing focus on succession planning, with CEO Jamie Dimon nearing two decades at the helm. Doug Petno, currently co-head of global banking, will take over Piepszak's role as co-CEO of the commercial and investment bank. Pinto, who has been with the bank for over four decades, was previously identified as a potential interim CEO during Jamie Dimon's emergency heart surgery in 2020.