JPMorgan CEO Reshuffles Executives, Affects No. 2

Speculation is mounting regarding the future of Daniel Pinto, president of JPMorgan, following a significant organizational restructuring that has seen his influence diminish. According to a report by the Financial Times, Pinto, 61, has lost key positions within the bank, particularly after being stripped of his title as head of the investment banking and trading division. This shift has allowed CEO Jamie Dimon to promote executives viewed as potential successors, including Jennifer Piepszak and Troy Rohrbaugh, who were appointed co-CEOs of the commercial and investment banking division. Pinto's attempts to install his own trusted allies in senior roles have been thwarted, with Dimon opting for Doug Petno as co-head of global banking, despite past conflicts between the two. Pinto had advocated for Marc Badrichani, Takis Georgakopoulos, and Viswas Raghavan to take on prominent positions, but Dimon’s decisions have left Pinto's ambitions unfulfilled. The departures of Badrichani, Georgakopoulos, and Raghavan further signal a decline in Pinto's power within the organization. As Dimon, 68, prepares for retirement within the next five years, the dynamics at JPMorgan are shifting. While Dimon has publicly praised Pinto, the recent changes have led to speculation about Pinto's potential exit from the bank. Despite a lucrative retention bonus awaiting him in December 2026, the internal politicking suggests that his departure could come sooner than anticipated, as insiders note the dismantling of his power base.