JPMorgan Chase announces leadership changes as potential successors to CEO Jamie Dimon are given new or expanded roles, with Jennifer Piepszak and Marianne Lake taking on key positions. The long-running succession race at the nation's largest bank continues, with no clear frontrunner emerging, and uncertainty surrounding Dimon's retirement plans. The shuffle also involves the consolidation of business divisions and the transition of key executives, including Daniel Pinto relinquishing his CEO title while remaining the bank's president and COO.
Morgan Stanley has announced that longtime insider Ted Pick will succeed James Gorman as CEO on January 1, ending a closely watched succession race. Pick, a 33-year veteran of the company, currently leads the institutional securities division and previously led a turnaround in the fixed-income trading division. Two other executives, Andy Saperstein and Dan Simkowitz, were also given new titles and responsibilities. Gorman will transition to the role of executive chairman. Since Gorman became CEO in 2010, Morgan Stanley's stock has climbed 141%.
Morgan Stanley CEO James Gorman has announced that he plans to step down within the year, sparking a succession race among three internal candidates. Gorman, who has been in the role since 2010, will take on the executive chairman role after stepping down. Morgan Stanley has transformed into a wealth management powerhouse under Gorman's leadership.
