JPMorgan reformed its senior team and appointed Daniel Pinto as its sole president

JPMorgan Chase has faltered with Gordon Smith, one of the top lieutenants of CEO Jamie Dimon, and plans to step down at the end of the year.

Smith is the co-president and co-chief operating officer of Daniel Pinto, head of investment banking, and is also responsible for the consumer side of the bank. Once left, Pinto will become the sole president and chief operating officer.

Smith will remain with JPMorgan Chase as a senior advisor to Dimon and other executives.

Dimon said in a statement: “For the past 13 years, Gordon has been an outstanding business leader and partner in his profession.” “I am very happy that he will continue to be a wise man for me and our senior management team. Resources.”

Marianne Lake, head of the bank’s consumer lending department, and Jennifer Piepszak, chief financial officer, will become co-heads of JPMorgan’s consumer and community banking department.

Jeremy Barnum will succeed Piepszak as the bank’s chief financial officer.

When Dimon finally resigned as CEO, both Lake and Piezac were considered potential replacements for Dimon. Dimon has been leading the bank since 2006.

Smith said: “Leaving this first-class team is personally painful for me, but I am happy to support them in any way and am excited about the bright future of the company.”