JPMorgan Chase & Co. has announced that Daniel Pinto will step down as President and Chief Operating Officer on June 30, 2025, after more than four decades with the firm. Jennifer Piepszak, previously co-CEO of JPMorgan’s Commercial and Investment Bank, has been appointed as the new COO, effective immediately. Piepszak will work closely with Pinto during the transition period.
Pinto, who joined a JPMorgan predecessor in 1983, has held various leadership roles, including CEO of the Corporate and Investment Bank and, since 2018, the firm’s first companywide COO. He will continue to serve as Vice Chairman until his planned retirement at the end of 2026, advising CEO Jamie Dimon and other senior executives on strategic projects and client relationships.
Piepszak, a 30-year veteran of JPMorgan, has held several key positions, including Chief Financial Officer from 2019 to 2021 and co-CEO of Consumer & Community Banking from 2021 to 2024. In her new role as COO, she will oversee the bank’s global operations, technology services, data analytics, corporate strategy, and diversity, equity, and inclusion initiatives. She will also manage the firm’s Global Corporate Centers in India and the Philippines, which collectively employ over 80,000 professionals.
Despite being considered a strong contender for the CEO position, Piepszak has expressed her preference for a senior operating role and has ruled herself out as a candidate to succeed Jamie Dimon. This decision shifts the focus of succession planning to other internal candidates, including Marianne Lake, CEO of Consumer and Community Banking; Troy Rohrbaugh, head of the Commercial and Investment Bank; and Mary Erdoes, CEO of Asset and Wealth Management.
The leadership changes are part of JPMorgan’s ongoing efforts to ensure a smooth transition for its top executive roles. CEO Jamie Dimon, who has led the bank since 2006, has indicated that he may step down within the next few years, though no specific timeline has been announced.
As JPMorgan navigates this period of executive transition, the appointments of Piepszak and other leadership changes underscore the bank’s commitment to maintaining stability and continuity at the highest levels of management.
