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JPMorgan shakeup continues

  • November 19, 2012 - 9:28 PM

NEW YORK - JPMorgan Chase & Co. named Marianne Lake to succeed Chief Financial Officer Doug Braunstein, extending an overhaul of senior leadership at the largest U.S. bank by assets.

Lake, 43, will assume the new role in the first quarter as Braunstein, 51, becomes a vice chairman. Lake most recently was CFO of the New York-based firm's consumer and community banking business.

Braunstein is relinquishing oversight of the bank's finances after CEO Jamie Dimon, 56, shuffled other top managers in the wake of more than $6.2 billion of losses linked to a trader nicknamed the "London Whale." Braunstein had reported to Dimon until July when Matt Zames, 42, the executive assigned to clean up the bad trades, became his boss.

"There's been a lot of change recently, somewhat driven by the Whale, but that's life, and we tried to do the right thing there and we're doing fine," Dimon said on Monday.

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