JPMorgan Chase Promotes Two Women to Lead the Largest US Consumer Bank

George PaulNews
Marianne Lake and Jennifer Piepszak

Marianne Lake (left) and Jennifer Piepszak (right). Image credit: JPMorgan Chase

JPMorgan Chase has named Marianne Lake and Jennifer Piepszak to lead its consumer finance unit, the bank’s largest division.

Lake, who most recently served as the bank’s CEO of Consumer Lending, and Piepszak, the company’s current CFO, will take the reins from Gordon Smith, who will retire at the end of the year. The two will report to Smith until he steps away from the bank.

Piepszak’s role as CFO will be backfilled by Jeremy Barnum, JPMorgan Chase’s Head of Global Research, effective immediately.

“We are fortunate to have two such superb executives in Marianne and Jenn – they both are examples of our extremely talented and deep management bench,” CEO Jamie Dimon stated. “Both have proven track records of working successfully across the firm and both are well known and respected within the financial industry for their exceptional character and capabilities.”

The two women have both previously been noted as front runners to replace Dimon, who was forced to temporarily step away from the bank last year after emergency heart surgery. The move to give Lake and Piepszak joint oversight of the bank’s biggest unit could signal they are being further vetted to eventually run the nation’s biggest bank.


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