Story perspectives

JPMorgan Names Petno, Rohrbaugh CEOs; Lake Retires

6/25/2026

Summary

Story summary

JPMorgan Chase promoted Doug Petno and Troy Rohrbaugh to co-president roles effective immediately.
Doug Petno, 61, became sole CEO of the Commercial & Investment Bank.
Troy Rohrbaugh, 56, became CEO of Consumer & Community Banking, succeeding Marianne Lake.
Each new co-president received a $30 million restricted-stock retention award, narrowing the CEO field according to analysts.
Marianne Lake, a 25-year JPMorgan veteran and former CFO, announced she will retire at year-end.

History

Historical Context

In March 2008 JPMorgan Chase bought Bear Stearns for $10 a share, a deal overseen by CEO Jamie Dimon that steadied the banking system during the financial crisis. The firm’s pattern of reshuffling senior leaders resurfaced in June 2026 when co-CEOs Doug Petno and Troy Rohrbaugh were named co-presidents, signaling continued succession planning as the bank seeks to retain talent amid heightened regulatory scrutiny.

1 of 2

Story summary

JPMorgan Chase promoted Doug Petno and Troy Rohrbaugh to co-president roles effective immediately.
Doug Petno, 61, became sole CEO of the Commercial & Investment Bank.
Troy Rohrbaugh, 56, became CEO of Consumer & Community Banking, succeeding Marianne Lake.
Each new co-president received a $30 million restricted-stock retention award, narrowing the CEO field according to analysts.
Marianne Lake, a 25-year JPMorgan veteran and former CFO, announced she will retire at year-end.

1 / 2