JPMorgan Chase has named Doug Petno and Troy Rohrbaugh as co-presidents effective immediately — the clearest step yet in the board’s planning for an eventual successor to CEO Jamie Dimon.

Dimon, who has led JPMorgan since 2006, remains as chairman and CEO. Over his tenure, he has reduced the bank’s direct mortgage origination footprint in favor of higher-return businesses while tightening credit in certain channels and focusing on cross-sold, relationship-based lending.

In addition to their new companywide roles, Petno will become sole CEO of the Commercial & Investment Bank (CIB), a position he previously shared with Rohrbaugh. Meanwhile, Rohrbaugh will become CEO details ⇒

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