JPMorgan Chase just reshuffled its executive deck in a way that makes the bank’s succession picture considerably clearer. Troy Rohrbaugh and Doug Petno have been named co-presidents of the firm, with Rohrbaugh widely viewed as the frontrunner to eventually take the top job from Jamie Dimon.
The move, announced on June 25, places two of JPMorgan’s most seasoned operators at the very top of the org chart. It also narrows what was once a wider field of internal candidates, particularly after the retirement of Marianne Lake, who had long been considered a leading succession contender herself.
The new power structure
Rohrbaugh, 56, takes over as CEO of Consumer and Community Banking, the division Lake ran before announcing her departure after 25 years at the firm. Petno, 61, becomes sole CEO of the Commercial & Investment Bank.
Both men had been running the CIB together as co-heads since early 2024. Now they each get their own fiefdom, running JPMorgan’s two largest business segments independently.
