JPMorgan’s Lake Exits, Setting Up Fresh Race to Succeed D…

JPMorgan Chase & Co. has appointed Troy Rohrbaugh and Doug Petno as co-presidents following the unexpected departure of consumer banking chief Marianne Lake. This move raises the stakes in the succession race for CEO Jamie Dimon, who is currently 70 years old. Rohrbaugh, aged 56, will take over Lake's responsibilities overseeing the consumer business, while Petno, aged 61, will lead the commercial and investment banking sectors.

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By Jennifer Surane

June 25, 2026 at 8:08 AM EDT

Updated on June 25, 2026 at 2:08 PM EDT

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JPMorgan Chase & Co. named Troy Rohrbaugh and Doug Petno co-presidents as the abrupt departure of consumer banking chief Marianne Lake marked another twist in the race to succeed Chief Executive Officer Jamie Dimon.

The new titles put Rohrbaugh, 56, and Petno, 61, in a two-man race to one-day take over from Dimon, 70. Rohrbaugh will replace Lake, giving the Wall Street veteran a perch overseeing JPMorgan’s sprawling consumer business. Petno will be sole CEO of the commercial and investment bank.

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JPMorgan’s Lake Exits, Setting Up Fresh Race to Succeed Dimon