JPMorgan Names Doug Petno and Troy Rohrbaugh Co-Presidents, Narrows CEO Succession Race
JPMorgan Chase named Doug Petno and Troy Rohrbaugh as co-presidents, elevating the two bankers to the top of the succession race to succeed Jamie Dimon. The appointment was prepared roughly a month ago at the direction of Dimon and the board to formalize the leadership transition at the U.S. bank, which is the largest by assets.
The executive shuffle also includes the retirement of Marianne Lake, the consumer banking chief who had been viewed as a leading candidate for the CEO role. Under the new structure, Petno will lead the commercial and investment banking division while Rohrbaugh takes over the consumer and community banking unit. Dimon plans to step down as CEO in approximately three years while remaining chairman, leaving Petno and Rohrbaugh to compete for the top position.
From the sources (18 posts)
@zerohedge*JPMORGAN NAMES DOUG PETNO & TROY ROHRBAUGH CO-PRESIDENTS
@zerohedge*JPM'S CONSUMER, COMMUNITY BANKING CEO MARIANNE LAKE TO RETIRE *JPMORGAN NAMES ROHRBAUGH CEO OF CONSUMER & COMMUNITY BANKING
@cgasparinoBREAKING: Sources inside @jpmorgan say the nation's biggest bank just set up the horse-race to succeed long-time CEO Jamie Dimon, naming Doug Petno, Troy Rohrbaugh as co-presidents. Story developing $JPM
@ftJamie Dimon promotes two potential successors as co-presidents of JPMorgan Chase
@wsjmarketsJPMorgan Chase named Doug Petno and Troy Rohrbaugh as co-presidents of the company, laying the groundwork to find candidates to succeed chief executive Jamie Dimon
@ftBreaking news: Jamie Dimon has named Doug Petno and Troy Rohrbaugh co-presidents of JPMorgan Chase, elevating two potential candidates to succeed him as chief executive of America’s biggest bank
@wsjBreaking: JPMorgan named two co-presidents, laying the groundwork to find candidates to succeed CEO Jamie Dimon
@cnbcJPMorgan names Doug Petno and Troy Rohrbaugh co-presidents as longtime exec Marianne Lake exits
@nypostJPMorgan names co-presidents, setting up new horse race to succeed CEO Jamie Dimon
@cgasparinoBREAKING: The race to succeed America's top banker is on. Sources inside JP Morgan, the nation's top bank, say the elevation of two senior executives Doug Petno and Troy Rohrbaugh as co-presidents of the company, sets up a long-awaited hor
@cgasparinoSCOOP: @jpmorgan insiders say Marianne Lake, once considered Jamie Dimon's heir apparent and the current leader of consumer and community banking, is said to be "not happy" about being passed over in the race to succeed Dimon as CEO. Hence
@stockmktnewzJPMorgan $JPM named Doug Petno and Troy Rohrbaugh as co-presidents of the company, putting them in the lead as candidates to succeed CEO Jamie Dimon - WSJ
@cgasparinoScoop: Despite the seeming rushed nature of the statement announcing the front runners in the face @jpmorgan CEO Jamie Dimon, and the surprise retirement of Marianne Lake, my sources inside the bank say the announcement had been in the wor
@bloombergtvJPMorgan Chase named Troy Rohrbaugh and Doug Petno co-presidents after the retirement of consumer banking chief Marianne Lake. Katherine Doherty reports
@exec_sumJPMORGAN CEO SUCCESSION UPDATE: Jamie Dimon named Doug Petno and Troy Rohrbaugh as co-presidents of JPMorgan Petno, 61, will become sole head of JPMorgan's commercial and investment bank Rohrbaugh, 56, will become head of JPMorgan's Chase
@cgasparinoScoop: The elevation of Doug Petno and Troy Rohrbaugh as co presidents of @jpmorgan, thus narrowing the race to succeed CEO Jamie Dimon was decided about a month ago by Dimon and the board, my sources say. It was predicted based on the busi
@reutersJPMorgan reshapes Jamie Dimon succession race with executive shuffle
@eleanorterrett“The plan is for Dimon to step down as CEO in three years and remain as chairman.”