Marianne Lake, holder of dual British and American citizenship, has become one of Wall Street’s most powerful women after being promoted to chief financial officer of JPMorgan Chase.
Lake, 43, will replace Doug Braunstein as CFO early next year, becoming one of Wall Street’s highest-ranking women, along with others such as Ruth Porat, the chief financial officer of Morgan Stanley.
A PricewaterhouseCoopers alumna, Lake is a former head of finance at JP Morgan’s London office.
She will answer directly to chief executive Jamie Dimon who is still struggling to get the bank over the £3.9 billion losses caused this year by trader Bruno Iksil, known as the London Whale. He has already shuffled much of the bank’s senior management.
Dimon said Lake “has developed an impressive breadth of knowledge and experience in finance across both our wholesale and our consumer businesses”.
