JPMorgan Chase exec Daniel Pinto, longtime No. 2 to Jamie Dimon, will step down in June

JPMorgan Chase exec Daniel Pinto, longtime No. 2 to Jamie Dimon, will step down in June


Daniel Pinto, president and chief operating officer of JPMorgan Chase, speaks during the Semafor 2024 World Economy Summit in Washington, DC, on April 18, 2024.

Saul Loeb | AFP | Getty Images

JPMorgan Chase said Tuesday that Chief Operating Officer and President Daniel Pinto will step down from those roles in the coming months, elevating a potential successor to CEO Jamie Dimon to a key companywide role.

Pinto, who has worked at JPMorgan and a predecessor firm for more than four decades, will cease being COO and president in June and retire at the end of 2026, the bank said.

This story is developing. Please check back for updates.



Source

How Under Armour signed Stephen Curry away from Nike
Business

How Under Armour signed Stephen Curry away from Nike

In 2013, Stephen Curry shocked the sneaker world by signing with then-upstart athletic company Under Armour over basketball powerhouse Nike. At the time, Nike controlled the vast majority of the NBA sneaker market. Under Armour was virtually unheard of in the basketball space. “We’re the underdog brand. We’re for the ones that were maybe born […]

Read More
Private equity firm Roark Capital invests in fast-growing restaurant chain Dave’s Hot Chicken
Business

Private equity firm Roark Capital invests in fast-growing restaurant chain Dave’s Hot Chicken

Private equity firm Roark Capital has bought a majority stake in Dave’s Hot Chicken, the company announced on Monday. Financial terms were not disclosed, but Dave’s CEO Bill Phelps said on CNBC’s “Squawk Box” that the reported $1 billion valuation for the deal is “pretty close.” Since its founding in a Los Angeles parking lot […]

Read More
More office space is being removed than added for the first time in at least 25 years
Business

More office space is being removed than added for the first time in at least 25 years

After several years of deep distress, the beleaguered U.S. office market has reached an inflection point. This year, office conversions and demolitions will exceed new construction for the first time in at least 25 years. Simply put, more office space is being removed than added, shrinking the overall office footprint, according to exclusive new data […]

Read More