JPMorgan Chase appoints new Co-Presidents and Co-Chief Operating Officers

JPMorgan Chase & Co. (NYSE: JPM) announced that Daniel Pinto (55), Chief Executive Officer of its Corporate & Investment Bank, and Gordon Smith (59), Chief Executive Officer of Consumer & Community Banking, have been appointed Co-Presidents and Co-Chief Operating Officers of the company, effective immediately, continuing to report to Jamie Dimon (61), Chairman and Chief Executive Officer. In addition to their current roles, Pinto and Smith will work closely with Dimon to help drive critical firmwide opportunities. Responsibilities for the rest of the firm’s Operating Committee will remain unchanged, with its members continuing to report to Dimon as well.

While the Board of Directors and I have agreed that I will continue in my current role for approximately five more years, the promotions we announced today reflect the enormous contributions that Gordon and Daniel have made to the continuing success of our company. Both have proven track records of working successfully across the firm, and both truly possess the capabilities, character and intellect that exemplify great leadership. Having Daniel Pinto, head of the world’s largest and most successful Corporate & Investment Bank, and Gordon Smith, CEO of America’s top consumer financial company, serve as Co-Presidents and Co-COOs of our company, demonstrates the strength of our management team and formally recognizes the critically important roles they play,” Dimon said.

Dimon added that Pinto and Smith are leading innovators in their respective businesses — embracing cutting edge technology and customer solutions that have earned them consistently growing market shares. These are particularly important skills as the firm works to fuel continued healthy growth with its wholesale and consumer customers.

Daniel Pinto

I also want to say how grateful I am to the rest of our Operating Committee, the top leaders of our company, who have taken our company to the next level and who have been so supportive of this decision. They will continue in their current roles and will also help me and their other colleagues on various cross-company initiatives. Our other outstanding CEOs, Mary Erdoes (50), Asset and Wealth Management, and Doug Petno (52), Commercial Bank, along with our Chief Financial Officer, Marianne Lake (48), took on expanded roles last year and have played progressively more significant roles partnering across the firm in helping manage the company.

I am greatly honored and humbled to be named a President of this extraordinary institution,” said Daniel Pinto, “and I’m extremely fortunate to be sharing this role with Gordon Smith, who has been an outstanding partner and friend to me. We both care deeply about our company and our people, and we are committed to building on JPMorgan Chase’s great successes.

Gordon Smith

Gordon Smith added:

I deeply appreciate what a tremendous honor and responsibility it is to take on this broader role, and I couldn’t ask for a better partner in Daniel. We talk nearly every day, and I greatly value his counsel and friendship. It’s a privilege to work with him and my other outstanding colleagues on the Operating Committee on behalf of our millions of customers and clients and to help develop the next generation of leaders at JPMorgan Chase.

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