Daniel Pinto will retire in 2026 while Jennifer Piepszak takes on the role of COO—and has also taking herself out of the running for CEO.

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.

Pinto, who has worked at JPMorgan and a predecessor firm for more than four decades, will cease being COO and president in June and retire at the end of 2026, the bank said. This