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Factbox-The JPMorgan executives who will update investors on First Republic, strategy

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By Nupur Anand

NEW YORK (Reuters) – JPMorgan Chase & Co executives will update investors on its takeover of failed First Republic Bank, which has made the biggest U.S. bank even bigger.

CEO Jamie Dimon and other top executives will present their strategies at an investor day at its headquarters in New York on Monday. The gathering comes at a time when investors are concerned about an economic slowdown, and the possibility the debt ceiling will not be lifted and the U.S. unable to pay all of its debts.

Here are biographies of key leaders, based on company documents, statements and Reuters reports.

JAMIE DIMON, CEO

Dimon has been at the helm for 17 years, steering the bank through the 2008 financial crisis before playing another major role in the industry this year as it was roiled by bank failures.

Arguably Wall Street’s most prominent executive, the 67-year-old CEO is also a leading voice in corporate America. He is often asked to weigh in on economic, business and public policy issues and presents his views in an annual letter, which ran to 43 pages this year.

Dimon is known for being a larger-than-life personality who occasionally curses during public appearances. He has a meticulous attention for detail and sets a high bar for performance among the company’s employees.

Throughout his tenure, Dimon has repeatedly said he would hand over the reins in five years, but several executives who were viewed as potential successors have left for other opportunities.

Dimon, who earned $34.5 million in 2022, also has a financial incentive to stay. The bank’s board awarded him a retention bonus of 1.5 million in stock options in 2021 that can only be exercised in 2026.

Analysts’ questions about the company’s succession plans may become more pointed after Morgan Stanley CEO James Gorman said on Friday he would step down within a year.

DANIEL PINTO, President and Chief Operating Officer

Pinto has spent his entire four-decade career at JPMorgan or its predecessor companies. He was promoted to president and COO in 2018 and ran the bank when Dimon had emergency heart surgery in 2020.

Pinto was identified “as a key executive who is immediately ready to step into the role of sole CEO, should the need arise in the near-term,” according to a company filing.

The executive rose through the trading business, running emerging markets, credit and fixed income. He became the head of its corporate and investment bank in 2014.

MARIANNE LAKE, CO-CEO OF CONSUMER AND COMMUNITY BANKING

Lake jointly leads the consumer and community bank with Jennifer Piepszak. Lake previously served as finance chief from 2013 to 2019.

The consumer division accounts for the bank’s largest chunk of revenue, bringing in $16.5 billion in the first quarter.

Lake, a two-decade veteran of the firm, “has all of the qualities of a great leader,” Dimon has said, such as being demanding, drawing information out of people, recognizing talent and also challenging Dimon when she believes he is wrong.

JENNIFER PIEPSZAK, CO-CEO OF CONSUMER AND COMMUNITY BANKING

Piepszak, who has been with the bank for nearly three decades, was its chief financial officer from 2019 to 2021. She has held leadership roles across major units, including CEO of its card services and business banking divisions.

Lake and Piepszak are among the executives in charge of integrating First Republic Bank after it was shuttered by authorities on May 1. JPMorgan agreed to undertake $173 billion of the failed bank’s loans, $30 billion of securities and $92 billion of deposits.

JPMorgan has not made acquisitions of this scale since its crisis-era takeovers of Bear Stearns and Washington Mutual.

JEREMY BARNUM, CHIEF FINANCIAL OFFICER

Barnum was promoted to CFO in 2021 after leading global research. Dimon has described Barnum as an “extraordinary talent” known for his “deep intellect and integrity.”

The finance chief joined JPMorgan in 1994, serving in various roles including CFO and chief of staff for the investment bank.

In 2005 he was let go in a broader restructuring of the credit-trading business, which had a difficult previous year. He then headed the London office of hedge fund Blue Mountain Capital Management before returning to JPMorgan as a trader in 2007.

DOUG PETNO, CEO OF COMMERCIAL BANKING

Doug Petno has been at the bank for more than three decades. He runs a unit that has more than 18,000 clients, including mid-sized businesses and corporations, government entities and non-profits and more than 33,000 real estate investors or owners.

He previously led JPMorgan’s investment banking group covering natural resources.

(Reporting by Nupur Anand in New York; Editing by Lananh Nguyen and Chris Reese)

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