JPMorgan's COO Daniel Pinto Steps Down, Jennifer Piepszak Takes Over

Daniel Pinto, who has been with JPMorgan Chase for over four decades, will step down as Chief Operating Officer and President in June. He plans to retire by the end of 2026. This move has sparked discussions about succession planning for current CEO Jamie Dimon. Jennifer Piepszak, the co-head of the commercial and investment bank, has been appointed as the new COO. She will manage the bank's technology, operations, data, and international business. Interestingly, the company clarified that Piepszak is not interested in becoming CEO at this time and wants to support Dimon and the leadership team. Last year, Dimon hinted that his tenure as CEO might end within five years, which had triggered speculation about his replacement. This story is still unfolding, so keep an eye out for more updates.