Summary
JPMorgan Chase & Co. announced significant leadership changes effective May 1, 2019. Jennifer A. Piepszak will be appointed as the new Chief Financial Officer (CFO), succeeding Marianne Lake. Ms. Piepszak brings extensive experience within the firm, having most recently served as CEO of Card Services and previously leading Business Banking. Her tenure at JPMorgan Chase, dating back to 1994, spans various critical financial and operational roles across different business segments, including significant experience in the Consumer & Community Bank and the Corporate & Investment Bank. Concurrently, Marianne Lake will transition from her role as CFO to become the Chief Executive Officer of Consumer Lending, overseeing Card Services, Home Lending, and Auto Finance. She will also retain her position on the Firm's Operating Committee. These appointments reflect a strategic realignment of leadership responsibilities within the company, aiming to leverage experienced executives in key growth areas. Investors should note these changes as they signify a shift in executive focus and operational leadership within two of the firm's major business divisions.
Key Highlights
- 1Jennifer A. Piepszak appointed as the new Chief Financial Officer (CFO) of JPMorgan Chase, effective May 1, 2019.
- 2Marianne Lake will transition from CFO to become the CEO of Consumer Lending (including Card Services, Home Lending, and Auto Finance).
- 3Ms. Piepszak has a long tenure at JPMorgan Chase, starting in 1994, with extensive experience in finance and leadership roles across various business segments.
- 4Ms. Piepszak's recent leadership roles include CEO of Card Services and CEO of Business Banking.
- 5Ms. Lake will remain a member of the Firm's Operating Committee in her new role.
- 6The press release announcing these changes is attached as Exhibit 99.1.