00:00It's Benzinga, bringing Wall Street to Main Street.
00:03JPMorgan Chase's latest management revamp elevated Troy Rohrbaugh and Doug Pettno
00:08as leading contenders to succeed CEO Jamie Dimon, according to Bloomberg.
00:12Rohrbaugh will take over JPMorgan's consumer banking business
00:15after rising through the bank's trading ranks,
00:18while Pettno will lead the corporate and investment bank as its sole head.
00:22The changes follow the surprise retirement of Marianne Lake,
00:25whose departure Wells Fargo analyst Mike Mayo called less than ideal.
00:30Mayo said Pettno is a proven leader and said Rohrbaugh could be well-groomed
00:35to run the whole company if he succeeds in consumer banking.
00:39Rohrbaugh joined JPMorgan in 2005 and became global head of markets in 2019.
00:45Pettno previously ran JPMorgan's commercial bank for more than a decade.
00:49For all things money, visit Benzinga.com.
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