Has JPMorgan just tipped its hand on a success plan?

JPMorgan Chase may have moved one step closer to Wednesday to clarify who could ever succeed with Jamie Dimon as CEO.

Marianne Lake, CFO, was appointed CEO of the bank's consumer lending department with effect from 1 May. Jennifer Piepszak,

Lake – No. 2 on the American Bankers 2018 Most Poweful Women in Banking List – has been widely regarded as a possible successor to Dimon, who last year said he planned to stick to the helm for five years. She has been CFO since January 2013 and has worked in commercial and retail divisions for two decades at the company. But the thinking has been that JPMorgan eventually had to give her some experience in running a business line to prepare her to lead the entire company.

  Jennifer Piepszak (left) and Marianne Lake of JPMorgan Chase.
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JPMorgan Chase CFO Marianne Lake (right), who has been rumored during the past year as a leading candidate to succeed Jamie Dimon as CEO several years on the road, was appointed as head of Consumer Lending Wednesday. Jennifer Piepszak, currently managing director of card services, will succeed as Chief Financial Officer and is seen as a rising star in the company.

Bloomberg News (Lake)

"If she is to get going [to succeed Dimon] she must run some businesses and generate some success on the revenue," says Marty Mosby, analyst at Vining Sparks. market experience, "said Mosby." But they lack the vision of a business leader who must compete in the market every day. This new job can give her that experience. "

Asked in her Women in Bank Profile if she would be interested in running a business line, Lake stressed that she was happy as a finance director – but that she also kept all her choices on the table "I am a little open on what could be next," she said in the profile, which was released in September. "There are many interesting places to be in this company."

Add Success Interview Is The Fact that Wells Fargo is searching for a new CEO Much of the early speculation of Wells Fargo's search has focused on JPMorgan Chase executives, including Lake and Gordon Smith, the executive man she will report to now as head of consumer loans.

I The newly created position as CEO of Consumer Loans, the Lake will oversee card services, mortgages and auto finance, will report to Gordon Smith, co-president and co-director of JPMorgan, Lake, 49, previous reports rt to chairman Jamie Dimon. She will remain on the company's board in her new role.

"Marianne Lake has served to stand out as the company's finance director and as a deep knowledgeable and reliable partner for me and my colleagues," Dimon said in a press release. "We are fortunate to have such an extraordinary leader who takes the helm of our consumer lending business."

As CFO, Piepszak, also 49, will report to Dimon and join the operating committee. Prior to boarding services, Piepszak was CEO of JPMorgan's commercial bank division. She started working at JPMorgan in 1994, and is also seen as a rising star in the company.

She was No. 4 on the most powerful women in the bank list.

"Jennifer Piepszak is a tremendously talented leader who has greatly strengthened the world-class card services business we have today," Dimon said in the release. "More importantly, she is the premier leader and partner who has spoken over the past 25 years in increasingly critical business and financial roles over our corporate and investment banking and consumer and community businesses."

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