JPMorgan names Marianne Lake CFO
The change also comes as Dimon grooms a younger group of executives at the bank.
In a reshuffle over the summer, Dimon named Michael Cavanagh and Daniel Pinto - both in their late 40s at the time - co-chiefs of commercial and investment banking. Both Cavanagh and Pinto are seen as prime candidates to succeed Dimon, 56, when he is ready to retire.
Lake was far removed from the derivatives debacle. Though she has been the CFO for JPMorgan's retail branch systems since 2009, she has had a relatively low profile outside the bank.
She has not been a member of the company's Executive Committee, whose roughly 50 members are listed in JPMorgan's annual report and who meet quarterly.
Lake has had some experience in the last five years meeting with Wall Street securities analysts, whom she will address in future quarterly conference calls after earnings reports.
In her previous roles, she saw the financial crisis up close as JPMorgan acquired investment bank Bear Stearns and then as the U.S. housing crisis battered JPMorgan's mortgage investments.
From 2007-09, she worked in JPMorgan's investment bank as global controller in finance and business management.
Lake first met Dimon when he came to the bank in 2004. Dimon, in the company's statement, said Lake has developed an impressive breadth of knowledge and experience in finance across both our wholesale and
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