Changes in JPMorgan's leadership could mean a woman chief executive

<p class = "canvas-atom text-canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "JPMorgan Chase (JPM) announced role changes for & nbsp;his two best women of the firmThe result is speculation that the largest US bank could be the first to see a woman CEO at the helm. "data-reactid =" 31 "> JPMorgan Chase (JPM) announced changes in the leadership role of its two largest women within the company, resulting in speculation that the most Big American bank could be the first to see a woman CEO at the helm.

On Wednesday, Chief Executive Officer Jamie Dimon announced that 49-year-old CFO Marianne Lake will transition from her current position to Director of Consumer Lending and report to Gordon Smith, Co-Chair.

Meanwhile, Jenn Piepszak, who is also 49 years old and is currently Director General of Card Services, will take over as CFO, reporting to Dimon. Mr. Piepszak will also join the company's operating committee of 12 people, where Lake will continue to serve.

In a statement, Wall Street's oldest CEO praised the two women and praised their contributions to the company. The movements come into effect on May 1st.

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<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Still, Lake – one of the most & nbsp;women visible on Wall Street-A & nbsp;long been considered a favorite data-reactid = "36"> Yet, Lake, one of Wall Street's most visible women, has long been considered one of the first to hold this job.

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"Best of the class"

After the announcement, some wondered if the two women were in the running for the next JPMorgan leader.

The reshuffle "seems extremely important to the next generation since it brings operational experience to Marianne Lake and seems to make it the favorite if it fulfills its new role over the past four or so years," wrote Mike Mayo, Senior Banking Analyst at Wells Fargo. .

"That being said, the new CFO (which has been presented to investors in 2017 and 2019) is a lesser-known product," he added, although Piepszak has, among other things, directed card services and JPMorgan business bank units.

Mayo also described the move as "revealing the best job rotation" as the firm voluntarily offers different opportunities to its executives.

"We are always surprised when we see leaders taking up new positions during their annual investor days," Mayo wrote.

He also claimed that it was good for detention, noting that Lake had been in his role for more than six years and "would surely be looked for elsewhere if he were not presented with new challenges."

Bank CEOs put diversity in the spotlight

The announcement of Dimon also comes a week after the House's Financial Services Committee grilled him, as well as other CEOs of major banks. During the lengthy hearing, Rep Al Green (D-TX) pointed out that the seven CEOs were white men.

"This is not a pejorative – you have all sung, to a certain extent, about diversity. If you think your potential successor will be a woman or a person of color, would you like to reach out in the air? Asked Green.

Green then suggested that it was time for a woman or a person of color to get in the ranks.

"I know it's sometimes hard to make a record, but the record has to be done. All white men and none of you, any of you seem to believe that your success will be a woman or a person of color. Is your bank likely to have a woman or a person of color over the next decade? Asked Green.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Five of the seven CEOs, including (C) Michael Corbat, Bank of America & # 39; s (LAC) Brian Moynihan and Goldman Sachs (GSDavid Solomon raised his hands, but Dimon and Morgan Stanley (MRS"Data-reactid =" 69 "> Five of the seven CEOs, including Michael Corbat, Brian Moynihan of Bank of America (BAC), and David Solomon of Goldman Sachs (GS), raised their hands, but James Gorman of Dimon and Morgan Stanley (MS) did not do it.

Last Friday, during a phone conversation with journalists, Dimon was pressed by a journalist to explain why he had not raised his hand during Green's interrogations.

"First of all, we are not talking publicly about the estate," said Dimon, also questioning the timing presented in the question. He noted that it is "possible" and likely to occur over a longer period.

"[This] has nothing to do with Marianne. People take these things so disproportionately, "he added, before congratulating Lake – who was also on the same call – as being" exceptional ".

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