Jennifer Piepszak

Last updated

Jennifer Piepszak
Education Fairfield University (BS)
Occupation(s)CFO, JPMorgan Chase & Co. (2019 - present)
CEO of Card Services, JPMorgan Chase Bank (2017 - 2019)
SpouseRichard Piepszak
Children3

Jennifer Piepszak is an American financial executive and has been the Chief Financial Officer (CFO) of JPMorgan Chase since May 1, 2019. Her appointment was announced on April 17, 2019. She succeeded Marianne Lake, who was the CFO since 2012. [1] [2] Barron's named Piepszak one of the 100 Most Influential Women in U.S. Finance. [3] Crain's New York named Piepszak the No. 2 Most Powerful Women in New York in 2019. [4] American Banker named Piepszak the No. 4 Woman to Watch in 2018. [5]

Contents

Early life

Piepszak graduated with a Bachelor of Science degree from Fairfield University. [6]

Career

Piepszak joined JPMorgan Chase in 1994. During her first 17 years she worked in the Corporate & Investment Bank, [7] including roles as CFO of mortgage banking, CFO of investment bank credit portfolio, controller of retail financial services, and controller of global equities and prime services. [6]

From 2014 to 2017 Piepszak was the CEO of Business Banking. From 2017 to 2019, Piepszak was the Chief Executive Officer (CEO) of JPMorgan's Chase Bank Card Services division, covering small business, consumer and commercial card businesses. [1] [6] In 2019 Piepszak succeeded Marianne Lake as the CFO of JPMorgan Chase & Co.. [1] [2] In 2021 Piepszak and Lake were named heads of the consumer and community bank. [8] In 2024 she was appointed Co-CEO of the Commercial & Investment Bank. [9]

The Wall Street Journal speculated that Piepszak may be in line to succeed Jamie Dimon as CEO of JPMorgan Chase. [10]

Piepszak is known to be focused on her and her reports "getting stuff done". [11]

Personal life

Jennifer is married to Richard C. Piepszak, and they have three children.

Related Research Articles

Chemical Bank was a bank with headquarters in New York City from 1824 until 1996. At the end of 1995, Chemical was the third-largest bank in the U.S., with about $182.9 billion in assets and more than 39,000 employees around the world.

<span class="mw-page-title-main">JPMorgan Chase</span> American multinational financial services firm

JPMorgan Chase & Co. is an American multinational finance corporation headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization as of 2023. As the largest of Big Four banks, the firm is considered systemically important by the Financial Stability Board. Its size and scale have often led to enhanced regulatory oversight as well as the maintenance of an internal "Fortress Balance Sheet" of capital reserves. The firm is headquartered at 383 Madison Avenue in Midtown Manhattan and is set to move into the under-construction JPMorgan Chase Building at 270 Park Avenue in 2025.

<span class="mw-page-title-main">Chase Bank</span> National bank headquartered in New York City

JPMorgan Chase Bank, N.A., doing business as Chase, is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding company, JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank was formed by the merger of the Chase National Bank and the Manhattan Company in 1955. The bank merged with Chemical Bank New York in 1996 and later merged with Bank One Corporation in 2004 and in 2008 acquired the deposits and most assets of Washington Mutual.

<span class="mw-page-title-main">Jamie Dimon</span> American billionaire business executive and banker (born 1956)

James Dimon is an American billionaire business executive and banker, who has been the chairman and chief executive officer of JPMorgan Chase since 2005. He has been on the board of directors of the Federal Reserve Bank of New York, and currently serves on the board of institutions such as the Business Roundtable, the Bank Policy Institute, and the Harvard Business School.

<span class="mw-page-title-main">E-Trade</span> American financial services company

E-Trade Financial Corporation, a subsidiary of Morgan Stanley, offers an electronic trading platform to trade financial assets. The company receives revenue from interest income on margin balances, commissions for order execution, payment for order flow, and management services.

J.P. Morgan & Co. is an American financial institution specialized in investment banking, asset management and private banking founded by financier J. P. Morgan in 1871. Through a series of mergers and acquisitions, the company is now a subsidiary of JPMorgan Chase, one of the largest banking institutions in the world. The company has been historically referred to as the "House of Morgan" or simply Morgan. For 146 years, until 2000, J.P. Morgan specialized in commercial banking, before a merger with Chase Manhattan Bank led to the business line spinning off under the Chase brand.

<span class="mw-page-title-main">Financial Services Forum</span>

The Financial Services Forum is an American, non-partisan economic policy and advocacy organization whose members are the chief executive officers of the eight largest and most diversified financial institutions headquartered in the United States.

James Bainbridge Lee, Jr. was an American investment banker, notable for his role in the development of the leveraged finance markets in the U.S. in the 1980s. He is widely credited as the architect of the modern-day syndicated loan market. At the time of his death, Lee was vice chairman of JPMorgan Chase & Co. and a member of the bank's executive committee. He was also Co-Chairman of JPMorgan's investment bank.

<span class="mw-page-title-main">Blythe Masters</span> British economist (born 1969)

Blythe Masters is a British Private Equity executive and former financial services and fintech executive. She is a former executive at JPMorgan Chase, where she was widely credited for developing the credit default swap as a financial instrument. She is founding partner of FinTech private equity firm, Motive Partners, CEO of Motive Capital Corp, an Advisory Board Member of the US Chamber of Digital Commerce, a Board Member of GCM Grosvenor, Forge Global, CAIS Group, and Credit Suisse Group.

<span class="mw-page-title-main">Mary Callahan Erdoes</span> American banker (born 1967)

Mary Callahan Erdoes is Chief Executive Officer of J.P. Morgan Asset & Wealth Management, a global leader in investment management and private banking with over $5 trillion in client assets. She is also one of the longest standing members of JPMorgan Chase & Co.'s Operating Committee.

JPMorgan Chase is an American multinational banking corporation with a large presence in the United Kingdom. The corporation's European subsidiaries J.P. Morgan Europe Limited, J.P. Morgan International Bank Limited and J.P. Morgan Securities plc are headquartered in London.

In April and May 2012, large trading losses occurred at JPMorgan's Chief Investment Office, based on transactions booked through its London branch. The unit was run by Chief Investment Officer Ina Drew, who later stepped down. A series of derivative transactions involving credit default swaps (CDS) were entered, reportedly as part of the bank's "hedging" strategy. Trader Bruno Iksil, nicknamed the London Whale, accumulated outsized CDS positions in the market. An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JPMorgan Chase.

Barry L. Zubrow is an American business executive and investment banker. Spending most of his career at Goldman Sachs, including in key leadership roles, he subsequently served as the Chief Risk Officer of JPMorgan Chase during the 2008 financial crisis. He was later appointed the Head of Corporate and Regulatory Affairs at that company between January and November 2012.

<span class="mw-page-title-main">Carl Chien</span> Taiwanese businessman

Carl Chien is a Taiwanese businessman. He is currently the Vice Chairman of Asia Pacific at J.P. Morgan and a member of the bank’s Asia Pacific Management Committee, responsible for building and fostering senior client relationships throughout 17 markets in the region. He is also the Chief Executive Officer for J.P. Morgan Taiwan and additionally supervises business activities in Korea. Carl represents J.P. Morgan in international conferences including the Boao Forum for Asia, APEC Business Council, and Summer World Economic Forum.

Charles W. Scharf is an American investment banker and business executive who is the chief executive officer and president of Wells Fargo. He was previously the CEO of Visa Inc. and BNY Mellon.

Frank J. Bisignano is an American businessman and the President and CEO of Fiserv. He previously served as the CEO of First Data Corporation and the COO of JPMorgan Chase.

<span class="mw-page-title-main">Bill Winters</span> American banker (born 1961)

William Thomas Winters, CBE is an American banker who is the chief executive (CEO) of Standard Chartered, and was formerly co-head of JPMorgan Chase's investment bank.

Marianne Lake is a senior British-American banker.

<span class="mw-page-title-main">Brian P. Brooks</span> American government official (born 1969)

Brian P. Brooks is an American lawyer, banker, entrepreneur, technologist, and former government official. He served as Acting Comptroller of the Currency from May 29, 2020, succeeding the 31st Comptroller of the Currency Joseph Otting, until January 14, 2021. Brooks was nominated twice by President Donald Trump for a five-year term as Comptroller of the Currency, once during the 116th Congress, and once in the 117th Congress.

<span class="mw-page-title-main">Nicolas Aguzin</span> Hong Kong Stock Exchange CEO

Alejandro Nicolas Aguzin is an Argentinian banker. He is currently the Chief Executive Officer of Hong Kong Exchange and Clearing Limited (HKEX). Prior to this, he was the Chief Executive Officer of International Private Bank at J.P Morgan Chase.

References

  1. 1 2 3 "JPMorgan Chase Appoints Jennifer Piepszak Chief Financial Officer; Marianne Lake Named Chief Executive Officer of Consumer Lending – Encompassing Card Services, Home Lending and Auto Finance". JPMorgan Chase . Retrieved April 17, 2019.
  2. 1 2 Wang, Christine; Frost, Wilfred (April 17, 2019). "JP Morgan names new CFO, and Marianne Lake moves to top consumer lending role". CNBC . Retrieved April 17, 2019.
  3. "2. Jennifer Piepszak, Chief Financial Officer, JP Morgan Chase & Co". Barron's . Retrieved April 20, 2020.
  4. "2. Jennifer Piepszak, Chief Financial Officer, JP Morgan Chase & Co". Crain's New York. June 3, 2019. Retrieved August 3, 2019.
  5. "The Women to Watch: No. 4, JPMorgan Chase's Jennifer Piepszak". American Banker. September 24, 2018. Retrieved August 3, 2019.
  6. 1 2 3 "CEO, Card Services". JPMorgan Chase . Retrieved April 17, 2019.
  7. "Jennifer Piepszak". www.jpmorganchase.com.
  8. Kelly, Kate (May 18, 2021). "JPMorgan Chase elevates two women to senior positions, fueling succession talk" via NYTimes.com.
  9. "JPMorgan Chase Announces Expanded Roles for Top Executives". www.jpmorganchase.com.
  10. Benoit, David (April 17, 2019). "Two Female Executives Top Short List for Next JPMorgan Chief". Wall Street Journal . Retrieved August 3, 2019.
  11. "The Women to Watch: No. 4, JPMorgan Chase's Jennifer Piepszak". American Banker. September 24, 2018.