JPMorgan Chase is reshuffling its management crew, a transfer that many contemplate a succession plan despite the fact that its longtime chief govt, Jamie Dimon, has signaled he’s staying put.

Mr. Dimon, 67, has been head of what’s now the most important financial institution in america for almost twenty years, and repeatedly disregarded ideas that he would possibly step apart. The specter of his eventual departure, nevertheless, hangs over JPMorgan as outsiders query whether or not he would possibly run for public workplace or serve in a presidential administration.

In a memo to workers Thursday, JPMorgan muddied the matter additional. It mentioned that Daniel Pinto, the financial institution’s chief working officer and Mr. Dimon’s deputy, would now not deal with the financial institution’s each day operations. Mr. Dimon mentioned that he and Mr. Pinto would “proceed to collectively handle the corporate.”

Mr. Pinto’s former obligations might be cut up by Jennifer Piepszak and Troy Rohrbaugh, who will function co-chief executives of an expanded industrial and funding financial institution that brings a number of traces of the corporate into one unit. Ms. Piepszak, who co-heads JPMorgan’s huge client banking enterprise, has lengthy been seen as a possible candidate for the highest job. Mr. Rohrbaugh had been one of many co-heads of the financial institution’s markets and securities enterprise.

The reshuffle will consequence within the departure of some executives. Others on the financial institution will see their roles redefined or be promoted to new ones.

One other senior govt, Marianne Lake, who ran the buyer and neighborhood banking unit with Ms. Piepszak, will now turn into the only real head of that enterprise. Wall Avenue analysts have lengthy thought-about Ms. Lake as a possible successor to Mr. Dimon as nicely.

Mary Erdoes, who runs JPMorgan’s wealth administration enterprise and is probably the financial institution’s most public face after Mr. Dimon, will stay in her present function.

Mr. Dimon has a monetary incentive to remain in his put up a great deal longer. Along with his annual pay ($36 million in 2023), he’s slated to obtain an extra bonus if he’s nonetheless chief govt in 2026.