JPMorgan Chase & Co. names Marianne Lake as its new CFO

By on Nov 20, 2012 in Banking, Business, United States Comments
JPMorgan Chase & Co

Image Credit: 4-traders.com

JPMorgan Chase & Co announced the name of their new CFO, Chief Financial Officer, on Monday, November 19, 2012. Marianne Lake, who serves as CFO for JPMorgan’s retail branch systems since 2009, was named as CFO, making her one of the most powerful woman on Wall Street.

According to finance.yahoo.com, from 2007-2009, she worked in JPMorgan’s investment bank as global controller in finance and business management.

Lake, 43, will replace Doug Braunstein as CFO early next year and join a handful of other women in top Wall Street roles, such as Ruth Porat, the chief financial officer of Morgan Stanley.

Braunstein, 51, a long-time investment banker, will become vice chairman at JPMorgan and “focus on serving top clients,” according to an announcement from the company.

Lake was quoted saying “I hope to be described as a great partner and someone who helped drive and develop the business,”

Lake, a chartered accountant, will directly report to CEO, Jamie Dimon. She will also join the bank’s powerful operating committee, which has about a dozen members.

Report further stated that that Lake has developed an impressive breadth of knowledge and experience in finance across both wholesale and consumer businesses according to Dimon.



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