J.P. Morgan Chase is undergoing leadership changes as President and Chief Operating Officer Daniel Pinto retires and will be replaced by Jennifer Piepszak, co-CEO of commercial and investment banking. Pinto will relinquish his role on June 30 and retire next year.
Piepszak will take over the role immediately, working with Pinto in the coming months to oversee areas such as technology, operations, and data analytics. She will be joined by Doug Petno, who will succeed her as co-head of global banking, alongside current co-CEO Troy Rohrbaugh.
The leadership changes come amid J.P. Morgan Chase’s expansion plans, including launching a digitally-centered consumer bank outside the US and opening 500 new US branches by 2027. The bank also aims to remodel another 1,700 locations.
Goldman Sachs Group has announced similar changes, creating a Capital Solutions Group that will bring together its financing, origination, structuring, and risk management solutions. The group is designed to enhance Goldman Sachs’ ability to serve corporate and investor clients and grow its business in private credit.
Private credit markets are booming, with the International Monetary Fund estimating it tops $2 trillion. J.P. Morgan Chase has partnered with several companies, including Cliffwater, FS Investments, and Shenkman Capital Management, to expand its private credit offerings.
Source: https://www.pymnts.com/personnel/2025/jpmorgan-promotes-investment-banking-head-jennifer-piepszak-chief-operating-officer