JPMorgan Chase names women as co-chief executives of consumer finance division

The logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange (Richard Drew/AP)

JPMorgan Chase will promote two women to jointly manage the bank’s consumer finance division, the bank’s biggest business by far, potentially signalling that a woman may eventually run the US’s biggest bank.

The bank said that Marianne Lake, who was JPMorgan’s chief financial officer for several years until recently, and its current chief financial officer Jennifer Piepszak will become co-chief executives of the consumer banking business.