JPMorgan Chase Names Jennifer Piepszak CFO, Marianne Lake to CEO of Consumer Lending -- 2nd Update
18 April 2019 - 7:57AM
Dow Jones News
By Josh Beckerman
JPMorgan Chase & Co. (JPM) said Chief Financial Officer
Marianne Lake will move to a new role as chief executive of
consumer lending, which will include card services, home lending
and auto finance.
Jennifer Piepszak, currently CEO for card services, will become
CFO of JPMorgan May 1. Ms. Piepszak, a former CEO of the business
banking unit, joined JPMorgan in 1994.
Ms. Lake will continue as a member of the operating committee.
In addition to leading consumer lending, she will be CEO of card
services. Home lending CEO Mike Weinbach and auto CEO Mark
O'Donovan will report to her.
Chief Executive Jamie Dimon said in a statement that "Marianne
Lake has served with distinction as our firm's CFO and as a deeply
knowledgeable and trusted partner to me and my colleagues." He said
"we are fortunate to have such an extraordinary executive taking
the helm of our Consumer Lending businesses, a part of the firm she
knows extremely well having acted as CFO of Consumer &
Community Banking from 2009-2012."
Mr. Dimon said "Jennifer Piepszak is an enormously talented
executive who has greatly strengthened the world-class Card
Services business we have today."
In her first year as CFO, 2013, Ms. Lake won praise for her
handling of the fallout from the bank's 2012 "London whale" trading
loss.
In after-hours trading, JPMorgan shares were down 20 cents to
$114.10.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 17, 2019 17:42 ET (21:42 GMT)
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