Marianne Lake, CFO of JPMorgan Chase, will lead the bank’s consumer lending activities

JPMorgan Chase is making some changes to its senior management.

The mega-bank announced on Wednesday that its current CFO, Marianne Lake, will become the CEO of its consumer lending business, which includes mortgages, card services and auto finance.

Lake, which is took into consideration being one of the potential replacements for CEO Jamie Dimon when he retires, has worked at the bank since 1999.

Prior to becoming CEO of Chase, Lake was CFO of consumer and community banking. Lake was also Global Controller of Investment Banking from 2007 to 2009 and held various positions within Consumer and Investment Banking in New York and London.

Jennifer Piepszak, who is currently CEO of the bank’s card services business, replaces Lake as CFO.

Piepszak joined Chase in 1994 and held several positions during his tenure at the bank. Prior to leading card services, Piepszak was CEO of the bank’s business banking unit. Earlier in his career at Chase, Piepszak held other leadership roles, including CFO of Mortgage Banking and Controller of Mortgage Banking and Retail Financial Services.

As CFO, Piepszak will report directly to Dimon. Piepszak will also be a member of the bank’s operating committee.

“Jennifer Piepszak is an extremely talented leader who has significantly strengthened the world-class card services business that we have today,” said Dimon. “Most importantly, she is a premier leader and partner who has excelled over the past 25 years in increasingly critical business and finance roles in our merchant and investment banking and banking businesses. of consumption and community.

In his new role, Lake will report to Co-Chair Gordon Smith and will continue to serve on the Operations Committee.

“Marianne Lake has served with distinction as our firm’s CFO and as a trusted partner to me and my colleagues,” said Dimon. “We are fortunate to have such an extraordinary executive at the helm of our consumer lending activities, a part of the company that she knows extremely well for having served as CFO of consumer banking and to communities from 2009 to 2012. “

Smith, who is also COO and CEO of Personal and Community Banking, added, “I have had the privilege of working closely with Jenn and Marianne for many years. These are truly exceptional talents who will not only build on the successes of our business, but will also help us accelerate our strong momentum serving customers and communities in the future.

The changes will come into effect on May 1, 2019.

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