“Quit while you’re ahead” isn’t a concept practised by many business leaders. It looks like Jamie Dimon may be the exception. He’s just led JPMorgan to the biggest annual profit ever reported by any bank, and now he’s turning to succession planning. It’ll all be someone else’s problem soon, Jamie.

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JPMorgan appoints new investment bank heads

JPMorgan CEO Jamie Dimon has moved around some of his top brass ($), positioning them to gain more experience as he makes his succession plans.

Jenn Piepszak and Troy Rohrbaugh will become co-heads of an expanded commercial and investment bank. Marianne Lake, who has run the consumer and community bank alongside Piepszak since 2021, will get sole control of the unit.

The move comes as Dimon hits the half-way mark of his five-year retention package. It also follows a period of high performance for the bank, which recently reported an annual profit of $49.6 billion ($), more than any lender in the history of US banking. The success saw Dimon’s pay increased to $36 million ($) for 2023.

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