top executives at least once in each of the three previous years. He has said that he likes to rotate his top staff through different positions as part of preparing potential successors.
In June 2011, Dimon replaced retail banking chief Charlie Scharf, who has since become CEO of Visa Inc.
In June 2010, Dimon named Braunstein to be CFO after Cavanagh had held the post for six years. Cavanagh was then put in charge of JPMorgan's Treasury & Securities Services unit which handles payments and other transactions for corporations and governments.
Cavanagh's assignment changed somewhat in this year's July shuffle when Dimon said the bank would combine the treasury services business with its investment bank and that Cavanagh would become co-head of the new unit, with Pinto.
In 2009, Dimon named Jes Staley to take over the investment bank, replacing its co- chief executives Bill Winters and Steve Black. At the time, it look like Staley could become a successor to Dimon, though they are about the same age.
But in July of this year, Staley was moved out of that executive role to become chairman of the combined corporate and investment bank.