JPMorgan Chase has expanded the responsibilities of Marianne Lake, who heads its US consumer and community banking division. This decision follows the departure of Sanoke Viswanathan, CEO of the bank’s international consumer and asset management unit.
According to an internal memo released on Tuesday, Lake will now also oversee JPMorgan’s international consumer banking operations and the strategic growth office in addition to her current duties.
With this development, Lake is becoming one of the leading names among the potential successors to JPMorgan CEO Jamie Dimon.Viswanathan, who has been with JPMorgan for more than a decade and served on the company’s management committee, will leave the bank in September to take up the role of CEO of financial data provider FactSet.
Marianne Lake currently leads JPMorgan’s US consumer and community banking segment, which serves more than 84 million customers.
The bank’s international consumer banking division, which has over 2.5 million clients in the UK, is planning to expand into continental Europe and other markets, according to CEO Dimon and Chairman Daniel Pinto. Viswanathan also led the international private banking and business solutions units within JPMorgan’s wealth and assets management division. He also played a significant role in the bank’s long-term strategic investments and acquisitions. Jamie Dimon, 69, stated on Monday that his retirement is still “a few years away.” However, he added that he could continue to hold leadership roles such as president or chief executive officer when his term ends.This leadership change was first reported by Bloomberg News.
