JPMorgan’s No. 2 Executive Daniel Pinto to Depart, Impact on CEO Succession

New York: So, Daniel Pinto, the big guy at JPMorgan, is stepping down. He’s been Jamie Dimon’s right-hand man for ages, ready to take over if anything happened. But now, he’s set to leave his role as president and COO in June and retire by the end of 2026.

Jennifer Piepszak, who’s been co-CEO of the commercial and investment bank, is taking over as COO. But here’s the twist: she doesn’t want the CEO job. A bank spokesperson said she’s more into supporting the team and working closely with Jamie.

This shake-up has everyone buzzing about who might take over for Dimon, especially since he’s turning 69 soon. Last year, he hinted that his timeline for stepping down isn’t as far off as it used to be.

Doug Petno will step in for Piepszak at the commercial and investment bank, while John Simmons will take over Petno’s old role. It’s all a bit of a game of musical chairs, isn’t it?

Pinto, who’s 63, will stick around until 2026 to help with the transition. Dimon praised him, calling him a great friend and saying he’s made a huge impact on the company over the years. It’s a big change for JPMorgan, and everyone’s watching closely to see what happens next.