Jun. 25 at 7:44 PM
$JPM names Doug Petno & Troy Rohrbaugh as co-presidents of the country's largest bank, setting them up as potential successors to 70-year-old CEO Jamie Dimon
In a filing today, the JPM also said Marianne Lake, the current head of JPM's consumer & community banking division, has decided to surprisingly retire - she was seen as the successor to Dimon
Petno, 61, now co-CEO of the commercial & investment bank, will become sole CEO of that division, & Rohrbaugh, 56, who had been co-CEO of the commercial & investment bank, will become CEO of the consumer & community banking division, succeeding Lake
CEO: “The decision to elevate Doug and Troy to Co-Presidents and heads of the company’s two largest businesses reflects the Board’s confidence in their extraordinary leadership capabilities, business performance, relationships, experience and commitment to always doing the right thing,”
JPM awarded a combined
$100M in brand-new restricted stock retention packages this week - Petno & Rohrbaugh are receiving
$30M each, while Jenn Piepszak & Mary Erdoes are receiving
$20M each. These newly issued awards will vest in 2029
Dimon's 1.5M stock options are scheduled to cliff-vest on July 20, 2026 & net shares delivered from the exercise must be held until July 20, 2031
