The announcement took Piepszak out of the running in the closely-watched JPMorgan succession race. For a few years, the former firm CFO had served as co-CEO of consumer and commun

JPMorgan Chase & Co. on Tuesday named Jennifer Piepszak its new chief operating officer, but the company’s four major department heads remain more likely successors to Chief Executive Jamie Dimon to head up the largest U.

JPMorgan Chase's Jennifer Piepszak, long seen as a strong contender to succeed CEO Jamie Dimon, exited the race on Tuesday and opted to become the chief operating officer of the biggest U.S. bank instead.