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JPMorgan Chase appoints new CFO and vice chairman

JPMorgan Chase & Co has appointed Marianne Lake as the company’s new chief financial officer (CFO) and a member of its Operating Committee, effective from early next year.

Currently serving as CFO of its Consumer & Community Banking business, Lake succeeds Doug Braunstein. Braunstein has been named as vice chairman of the company.

Both appointments will come into effect in the first quarter of 2013.

Lake had served as Global Controller of the Investment Bank from 2007 to 2009 prior to her role at JPM’s Consumer & Community Banking unit.

She was in the Corporate Finance group managing global finance infrastructure and controls functions from 2004 to 2007 and before that period Lake was the senior financial officer for the company in the UK.

JPM chairman and CEO Jamie Dimon said Doug in his new role will work alongside the company’s investment bankers to further strengthen the capabilities of its Corporate & Investment Bank.

Prior to his CFO role in June 2010, Braunstein served as head of Investment Banking Americas from 2008, and held several other senior Investment Banking positions, including head of Investment Banking Coverage and M&A.

With assets of $2.3 trillion and operations in more than 60 countries, JPM is an investment banking, financial services provider to consumers, small business and commercial banking, financial transaction processing, asset management and private equity.