JPMorgan Chase & Co., the largest U.S. bank by assets, named Marianne Lake to succeed chief financial officer Doug Braunstein, extending an overhaul of the lender's senior ranks.
Braunstein, 51, will become a vice chairman after Lake's move to the new role in the first quarter, the company said today in a statement. Lake, 43, is currently CFO of the New York-based firm's consumer and community banking business.
Braunstein is relinquishing oversight of the bank's finances after Chief Executive Officer Jamie Dimon, 56, shuffled other senior leaders in the wake of more than $6.2 billion in losses on botched trades by the firm's chief investment office. Braunstein had reported to Dimon until July when Matt Zames, 42, the executive assigned to clean up the bad trades, became his boss as co-chief operating officer.
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