Succession planning

The $4 trillion-asset bank posted its highest-ever annual profit but also said its CEO succession plan is still in the works.

The largest U.S. bank by assets has elevated Jennifer Piepszak to chief operating officer, in preparation for Daniel Pinto's retirement in 2026. But Piepszak is not interested in being CEO, the company said.

The Dallas bank's new CEO, Thomas Shafer, served in top roles at a number of banks that were subsequently acquired before he stepped away from the industry in 2022.

CEO Robert Fehlman will retire at the end of the year and be succeeded by his predecessor, George Makris Jr., the Arkansas-based company said Tuesday.

Multiple lenders recruited and promoted from within to fill leadership posts. Orrstown Financial Services disclosed the retirement of its planned CEO successor.

After the bank's 2014 spinoff from Royal Bank of Scotland, its executives worked to shore up weaknesses. Now they're concentrating on how to close the gap with regional banking peers.

Bharat Masrani, who's been at the Toronto-based bank's helm for a decade, will be succeeded by fellow TD executive Raymond Chun. One big question now is whether an insider or outsider would be better positioned to navigate the company through its AML troubles.

Donald Felix, who has previously worked at JPMorgan Chase and Citi, will become Carver's president and CEO on Nov. 1. He succeeds interim CEO Craig MacKay, who's been running the unprofitable bank for the past year.

As the 68-year-old CEO focuses on succession planning, here's a look at some of the longtime JPMorgan executives who could succeed him.

As more women generate and steward great wealth, they must also strive to develop and maintain financial wellness. The wealth management industry has a vital role to play in helping dynamic women on their journey.