JPMorgan Chase names two co presidents in reshuffle

JPMorgan Chase announced a major leadership reshuffle on Thursday, June 25, elevating senior executives Doug Petno and Troy Rohrbaugh to newly created co-president roles. The move, which coincided with the bank's stock reaching a record high, is widely seen as a significant step in the long-term succession planning for CEO Jamie Dimon.

Petno, 61, will become the sole CEO of the Commercial & Investment Bank, a unit that generated over 40% of the bank's revenue in 2025. Rohrbaugh, 56, will take over as CEO of the Consumer & Community Banking division, which serves millions of consumers and small businesses. Both appointments are effective immediately. The promotions follow the two executives' joint leadership of the commercial and investment bank since early 2024.

The restructuring was accompanied by the announced retirement of Marianne Lake, a 25-year veteran of the firm who had led the consumer division and was considered a leading candidate to eventually succeed Dimon. In a statement, Dimon said the changes mark an important step in the board's thoughtful process around succession planning and development of top leaders. He expressed confidence in Petno's and Rohrbaugh's...