In 2007 a young banker named Matt Zames told the chief risk officer of JPMorgan Chase’s investment banking operations over lunch that Bernie Madoff was probably running a Ponzi scheme. “While I am sad to see him leave, I respect his decision and all he has done for JPMorgan Chase,” Dimon said in his message. JPMorgan Chase’s stock has surged by 33% in the last year. With Zames’ departure, the most likely Dimon successors include Mary Erdoes, chief of JPMorgan Asset Management, Gordon Smith, head of the bank’s consumer banking division, chief financial officer Marianne Lake, and commercial banking chief Doug Petno. Erdoes, Lake, Petno, and investment banking chief Daniel Pinto will take over Zames’ responsibilities for now, a Securities & Exchange Commission filing says.

Source: Forbes June 08, 2017 19:13 UTC