Capital Calls: JPMorgan’s top team

  • 5/18/2021
  • 00:00
  • 3
  • 0
  • 0
news-picture

GAME OF THRONEZZZ. JPMorgan (JPM.N) is shuffling its top executives and dodging a big question. The U.S. lender’s head of consumer banking, Gordon Smith, is to leave at the end of the year and is handing the running of his division to two fast-rising executives, Jennifer Piepszak and Marianne Lake. Daniel Pinto, who runs JPMorgan’s investment bank, will become the sole chief operating officer, a job he and Smith currently share. Jamie Dimon, of course, remains both chief executive and chairman, and who will succeed him is no clearer than before. Pinto’s is more of an understudy role. Piepszak and Lake are in the ascendant, but making them share Smith’s role – and only some of it – mutes the compliment. The board has yet to directly address Dimon’s future. With over 15 years in situ, he could hang on for several years more read more . JPMorgan’s owners, though, may be ready for a change. At Tuesday’s annual meeting, 48% of them voted to strip Dimon, or at least his successor, of the chairman role, something only 42% backed last year. Guessing games that run too long risk becoming silly games. (By John Foley) On Twitter http://twitter.com/breakingviews Earlier in Capital Calls: FirstGroup’s U.S. bus sale looks hard to divert read more Stellantis spins wheels with Foxconn tech deal read more Accor makes cheeky late check-in to SPAC party read more UK’s Eurostar dodge misses a trick read more Capex concerns return to haunt telcos read more

مشاركة :