JPMorgan promotes Pinto and Smith, fueling race to succeed Dimon

By David Henry

NEW YORK (Reuters) - JPMorgan Chase & Co on Monday promoted Daniel Pinto and Gordon Smith to be co-presidents and co-chief operating officers.

The two men run JPMorgan's most prominent businesses, with Pinto, 55, overseeing the corporate and investment banking unit while Smith, 59, runs consumer and community banking.

While their names have been mentioned before as potential successors to Chief Executive Officer Jamie Dimon, their elevation to Dimon's No. 2 is the clearest signal that planning is actively under way for when he steps aside.

Other names cited by sources as potential successors include Chief Financial Officer Marianne Lake, as well as Mary Erdoes, who runs asset management and Doug Petno, who runs commercial banking. Typically, executives with COO and president titles are considered front-runners.

Dimon, 61, and the board of directors have agreed that he will stay in his current role for about five more years, according to the announcement. That timeframe suggests he does not plan on running for political office, something that has been discussed in business and Washington circles for some time.

(Reporting by David Henry in New York; Writing by Lauren Tara LaCapra; Editing by David Gregorio)

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