Who will be JPMorgan’s (JPM) CEO after billionaire Jamie Dimon?

Wall Street banks are continuing their succession planning process as the current leaders age. Morgan Stanley selected Ted Pick as James Gorman’s successor as the company faces headwinds. Citi appointed Jane Fraser in 2019 while David Solomon became Goldman Sachs CEO in 2018.

Therefore, the biggest question in Wall Street is on who will replace Bank of America’s Brian Moynihan and JPMorgan’s (NYSE: JPM) Jamie Dimon as the CEO. Jamie has said that he is not in a hurry to quit and the board has given him more incentives to stay for more years at America’s biggest bank. 

There are a few contenders to replace Jamie Dimon at the large conglomerate he created. In his leadership, he has cemented JPMorgan as a market leader in key banking industries like retail, wealth management, and investment banking. He did that both organically and through strategic acquisitions such as the recent buyout of First Republic Bank. This performance has helped turn Dimon into a billionaire with a net worth of $1.9 billion.

JPMorgan stock has outperformed the KBE ETF

Daniel Pinto

The first contender to become the next JPMorgan’s CEO is Daniel Pinto, the company’s president and Chief Operating Officer (COO). He is also the CEO of Corporate and Investment Bank at the bank. 

This means that he oversees some of the bank’s most important divisions, including trading. Investment banking, securities, and wholesale payments. Notably, Pinto has served at the pinnacle of the company when Jamie Dimon had a heart surgery a few years ago. 

Pinto has a long career in the banking industry in the US and emerging markets. He has worked in countries like Argentina, Uruguay, Paraguay. and London.

Marianne Lake

The other likely person to become the next JPMorgan’s CEO is Marianne Lake, 54. Lake is currently a senior manager at JPM, where she serves as the co-CEO of Consumer & Community Banking (CCB). She overseees over 80 million customers and more than 5.7 million small businesses.

Lake is one of the most powerful women in America’s financial services industry. She is also highly ambitious as she has interviewed to become CEO of other companies like PayPal and Wells Fargo. 

She has also served in various capacities at JPM, including being the CEO of Consumer Lending and as the Chief Financial Officer for six years. 

Jennifer Piepszak

The other likely candidate to succeed Jamie Dimon will be Jennifer Piepszak, who is the other co-CEO of Consumer and Community Banking business. In this role, she specifically leads the banking and wealth management businesses, which have become crucially important for JPMorgan. 

She has been at the bank for 17 years. Unlike Marianne Lake, Jennifer has been reticent about her desire to become the next CEO. Together with Lake, Jennifer is now tasked with incorporating First Republic Bank,

Mary Callahan Erdoes

The other likely Jamie Dimon successor is Mary Callahan Erdoes, the head of the bank’s asset and wealth management divisions. Her portfolio oversees over $4.3 trillion in assets for high net-worth customers, pension firms, and other entities. 

This makes her one of the most powerful women in finance. Mary Callahan has not expressed hopes to become the next CEO at the bank. 

It is still too early to speculate on who will be JPMorgan’s next CEO. What is clear, though, is that the next leader will have big shoes to fill because of what Jamie Dimon has built. He has made JPM a powerhouse in all crucial banking sectors and created a fortress balance sheet.