JPMorgan Chase has appointed Doug Petno and Troy Rohrbaugh as co-presidents in an effort to establish a succession plan for CEO Jamie Dimon, who is seen as nearing retirement. Both executives, who will lead the bank's largest divisions, received $30 million retention bonuses as part of this transition. This major move signals a significant step in the ongoing succession race at the bank.

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https://www.wsj.com/finance/banking/jpmorgan-names-co-presidents-in-effort-to-find-successors-for-jamie-dimon-aafb5c27

JPMorgan Shakes Up Dimon Succession Race With Two New Presidents

Doug Petno’s and Troy Rohrbaugh’s new roles set up next stage in bank’s long contest to name next chief executive

Alexander Saeedy

Updated June 25, 2026 6:56 pm ET

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Doug Petno and Troy Rohrbaugh, Co-CEOs of Commercial & Investment Bank at JPMorgan Chase Investor Day. Doug Petno and Troy Rohrbaugh of JPMorgan Chase in 2025.Amir Hamja for WSJ

The long-running succession drama at JPMorgan Chase over who will replace Jamie Dimon as chief executive appears to be entering its endgame.

The bank on Thursday promoted Doug Petno and Troy Rohrbaugh to be co-presidents of the firm, named them CEOs of the bank’s two biggest businesses and gave them $30 million retention bonuses to stay around.