09:13 AM EST, 01/14/2025 (MT Newswires) -- (Updates with additional details in the fourth paragraph.)

JPMorgan Chase ( JPM ) said Tuesday that President and Chief Operating Officer Daniel Pinto has informed the company about his decision to retire by the end of 2026.

Pinto will step down from his roles on June 30, the bank said.

JPMorgan ( JPM ) said it has named Co-Chief Executive Officer of the Commercial & Investment Bank Jennifer Piepszak as the new COO, effective immediately.

Pinto will continue to remain the company's vice chairman, while Doug Petno has been named co-CEO of the Commercial & Investment Bank, JPMorgan ( JPM ) said. Petno is the co-head of global banking.