May 25, 2024


Passion For Business

JPMorgan Chase Names Jeremy Barnum CFO

With Jennifer Piepszak staying named co-head of JPMorgan Chase’s client and community banking (CCB) enterprise, the banking giant this early morning named Jeremy Barnum its new finance main.

Barnum was head of world wide analysis for JPMorgan’s company and expenditure lender (CIB), a article he was named to in February. Prior to that, he experienced been CFO of CIB.

Jennifer Piepszak, JPMorgan Chase

In a push release, CEO Jamie Dimon referred to as Barnum an “extraordinary talent. His breadth of practical experience in just our advanced, world wide CIB positions him nicely for this significant firmwide purpose. In addition, he is acknowledged in just our enterprise and in the monetary and regulatory communities for his deep intellect and integrity.”

Piepszak experienced been CFO for only two many years, but the retirement of Gordon Smith left a hole open up in CCB. Piepszak and Marianne Lake, CEO of client lending and Piepszak’s predecessor as finance main, will co-guide the CCB enterprise, which includes home lending, auto finance, smaller enterprise, prosperity management, and credit score cards. The CCB organizations produced revenues of a lot more than $fifty billion past yr.

The new appointments will be productive right away, the lender reported.

The two Lake and Piepszak are reported to be contenders to succeed Dimon as CEO.

Piepszak is a 27-yr Chase veteran who ran the bank’s credit score card enterprise before staying tapped CFO in May 2019, and Lake joined JPMorgan in 1999 and was appointed CFO in 2012.

In addition to staying CEO of JPMorgan’s client and community banking enterprise, Smith was the bank’s co-president and main running officer. In December, when Smith’s retirement will take result, Smith, co-president Daniel Pinto will come to be the bank’s sole president and main running officer.

In one more finance-relevant transfer transpiring at JPMorgan, CNBC reported that Sherry Ann Mohan, the CFO of Goldman Sachs’ client enterprise, is leaving Goldman for JPMorgan. She is slated to come to be the CFO of the enterprise banking device, in accordance to CNBC. The appointment will come to be productive in August.

Picture by Spencer Platt/Getty Images
banking, client banking, JP Morgan Chase