JPMorgan Promotes Investment Banking Head Jennifer Piepszak to COO

Leadership Changes - Daniel Pinto, President and COO of J P Morgan Chase, is retiring after 40 years with the company and will be replaced by Jennifer Piepszak, co-CEO of commercial and investment banking [1] - Jennifer Piepszak will immediately take on the role of President and COO, overseeing areas including technology, operations, and data and analytics [2] - Doug Petno will succeed Piepszak as co-head of global banking alongside Troy Rohrbaugh, while John Simmons will succeed Petno as head of commercial banking [2] - Marianne Lake and Mary Erdoes will continue in their roles as CEOs of consumer and community banking, and asset and wealth management, respectively [3] Expansion Plans - J P Morgan Chase is planning to develop a digitally-centered consumer bank outside the United States, including launching a Chase bank in Germany [3] - The bank is also plotting expansions in Europe's Scandinavian countries and parts of Africa, aiming to open 500 US branches by 2027 and remodel another 1,700 locations [4] Digital Efforts - J P Morgan Chase's active mobile customers increased by 7% year over year to 57 million in the third quarter [4] - The convergence of digital enablement and in-branch settings is becoming a key feature as financial institutions revisit the role of technology in reshaping their physical footprints [5]