BUZZ-JPMorgan jumps as succession planning hints at more years of Dimon

Jpmorgan Chase

Jpmorgan Chase

JPM

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** JPMorgan Chase's JPM.N shares rise 2.8% to $342.65 in morning trading

** JPM names insiders Doug Petno and Troy Rohrbaugh as co-presidents, advancing succession planning ​as veteran CEO Jamie Dimon marks 20 years atop Wall Street's largest bank

** Marianne Lake, CEO ​of the bank's consumer and community banking division, is set to retire after more than 25 years with JPM

** BofA analyst Ebrahim Poonawala says Lake's retirement indicates several more years of Dimon as JPM CEO, adding that shareholders will like this news

** "Dimon has appeared highly engaged in every aspect of running the bank and, we believe, is best suited to navigate the franchise through a period in which the banking industry is likely to see rapid change on the back of the adoption of AI and digital asset technologies," Poonawala says

** As of last close, JPM stock up 3.5% YTD


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