Dimon Succession Race

JPMorgan Chase promoted Doug Petno and Troy Rohrbaugh, the co-heads of its commercial and investment bank, into newly created co-president roles, sharpening the succession race to eventually replace longtime CEO Jamie Dimon. The reshuffle also comes as Marianne Lake, once viewed as a leading contender and most recently head of the consumer bank, plans to retire, narrowing the field of potential successors. The moves position Petno and Rohrbaugh as prominent internal candidates while raising questions about how seriously investors and employees should read the timing of Dimon’s eventual departure. The shake-up also changes the optics of the race, leaving JPMorgan’s top succession contest looking more male-dominated than it did less than two years ago.