09:49 AM EDT, 04/08/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) has identified President and Chief Operating Officer Daniel Pinto as 'immediately ready' to lead the banking giant as chief executive "should the need arise in the near-term," according to a Monday filing with the Securities and Exchange Commission.

The bank said planning for an orderly CEO transition in the medium term is among the top priorities of its board, which is "spending significant time" developing candidates "who are well-known to shareholders" as potential successors to CEO Jamie Dimon.

"We view Mr. Pinto as a key executive who is immediately ready to fulfill the responsibilities of the CEO," Dimon and Lead Independent Director Stephen Burke said in a letter to shareholders in the filing. "We also continue to develop a deep bench of potential leaders who can execute the firm's strategy and enhance our strong culture."

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