Amongst different strikes: Vis Raghavan might be sole head of the worldwide funding banking franchise. His former co-head, Jim Casey, will get a brand new function that might be introduced quickly, the corporate mentioned. Marc Badrichani, co-head of markets and securities companies alongside Rohrbaugh, will go away.
JPMorgan additionally simplified some segments.
The business financial institution, run by Doug Petno, will transfer beneath Piepszak and Rohrbaugh. The pair may even oversee world funding banking, company banking, markets, securities companies and world funds.
The adjustments shine a highlight on a trio of JPMorgan veterans who’ve charted totally different paths by means of the ranks.
Lake, 54, has been well-known to buyers since she was named chief monetary officer in 2013. She held that place till 2019, when she was assigned to supervise client lending. Her new publish provides her oversight of a sprawling unit that itself could be the sixth-largest U.S. financial institution by property.
Piepszak, 53, succeeded Lake as CFO, capping a comparatively fast ascent into the realm of potential Dimon successors, and he or she has gained momentum as the highest candidate within the years since. Her new function broadens her expertise on the Wall Avenue facet of the home, the place she began her profession earlier than making a uncommon leap to the buyer facet greater than a decade in the past.
Rohrbaugh, 53, rose by means of JPMorgan’s bond-trading equipment to turn into world head of markets in 2019. His newest promotion expands his remit to incorporate wider swaths of the financial institution’s wholesale enterprise.
(Credit score: Jeenah Moon/Bloomberg)