JPMorgan gives consumer banking head Lake more responsibility as incumbent leaves

June 03, 2025 07:09 AM PDT | By EODHD

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JPMorgan gives consumer banking head Lake more responsibility as incumbent leaves — Image source: Kalkine Media

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(Reuters) -JPMorgan Chase has given Marianne Lake, widely seen as a potential successor to CEO Jamie Dimon, the additional responsibility of managing its overseas consumer banking arm and strategic growth office, according to an internal memo on Tuesday. The change comes as incumbent Sanoke Viswanathan resigned as the CEO of JPMorgan's international consumer and wealth unit. Viswanathan will join as the CEO of FactSet from September, the financial data provider said. Lake is currently the CEO of JPMorgan's domestic consumer and community banking arm, which serves more than 84 million consumers in the United States. JPMorgan's international consumer banking business has gained over 2.5 million customers in the UK, and is set to expand across continental Europe and beyond, CEO Jamie Dimon and President Daniel Pinto said in the memo seen by Reuters.

Viswanathan, 50, spent more than a decade at the Wall Street giant, and was also a member of JPMorgan's operating committee. He also oversaw the bank's international private bank and workplace solutions businesses within the asset and wealth management unit. While leading JPMorgan's strategy for many years, Viswanathan oversaw many of the bank's investments and acquisitions. Dimon, 69, said on Monday that his retirement was "several years" away, adding that he might stick around for a couple of years as chairman or executive chairman. Bloomberg News reported the development earlier in the day.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Leroy Leo) View Comments

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