JPMorgan Chase CEO Jamie Dimon announced Thursday that the company has named Doug Petno and Troy Rohrbaugh its new co-presidents. File Photo by John Angelillo/UPI | License Photo
JPMorgan Chase has named its new co-presidents on Thursday while announcing the departure of consumer and community banking CEO Marianne Lake.
Doug Petno and Troy Rohrbaugh will ascend to the roles of co-presidents after leading the company’s commercial and investment banking division since 2024. They are assuming their new roles immediately.
“The changes announced today mark an important step in our Board’s thoughtful process around succession planning and development of our top leaders,” Jamie Dimon, chairman and CEO, said in a statement. “We are fortunate to have in place an exceptional group of senior leaders, not only at our Operating Committee level but across our organization, and I’ve never been more excited about the future of JPMorganChase.”
The shuffle will make Petno the CEO of the commercial and investment banking division. Rohrbaugh will be the CEO of the consumer and community banking division.
Rohrbaugh’s career history has been in the world of trading and markets. His new position will be his first foray into the consumer banking side of finance.
Petno and Rohrbaugh will also receive one-time stock bonuses valued at $30 million.
Dimon, 70, has been focused on the company’s succession plan, saying that the company has multiple executives who could one day succeed him.
