JPMorgan Chase Names Jeremy Barnum CFO

With Jennifer Piepszak remaining named co-head of JPMorgan Chase’s consumer and group banking (CCB) small business, the banking large this early morning named Jeremy Barnum its new finance chief.

Barnum was head of world wide exploration for JPMorgan’s company and expense bank (CIB), a post he was named to in February. Before that, he had been CFO of CIB.

Jennifer Piepszak, JPMorgan Chase

In a push launch, CEO Jamie Dimon referred to as Barnum an “extraordinary expertise. His breadth of practical experience in our complex, world wide CIB positions him very well for this important firmwide job. In addition, he is regarded in our business and in the monetary and regulatory communities for his deep intellect and integrity.”

Piepszak had been CFO for only two years, but the retirement of Gordon Smith still left a gap open in CCB. Piepszak and Marianne Lake, CEO of consumer lending and Piepszak’s predecessor as finance chief, will co-guide the CCB small business, such as household lending, car finance, compact small business, wealth administration, and credit history cards. The CCB corporations generated revenues of far more than $fifty billion final 12 months.

The new appointments will be helpful immediately, the bank claimed.

Equally Lake and Piepszak are claimed to be contenders to triumph Dimon as CEO.

Piepszak is a 27-12 months Chase veteran who ran the bank’s credit history card small business before remaining tapped CFO in Could 2019, and Lake joined JPMorgan in 1999 and was appointed CFO in 2012.

In addition to remaining CEO of JPMorgan’s consumer and group banking small business, Smith was the bank’s co-president and chief functioning officer. In December, when Smith’s retirement will take result, Smith, co-president Daniel Pinto will turn into the bank’s sole president and chief functioning officer.

In an additional finance-connected shift transpiring at JPMorgan, CNBC claimed that Sherry Ann Mohan, the CFO of Goldman Sachs’ consumer small business, is leaving Goldman for JPMorgan. She is slated to turn into the CFO of the small business banking unit, in accordance to CNBC. The appointment will turn into helpful in August.

Photo by Spencer Platt/Getty Photos
banking, consumer banking, JP Morgan Chase