JPMorgan’s executive shuffle puts two women in line to replace Jamie Dimon
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 19 May 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
JPMorgan Chase has shuffled several top executives, and has elevated two women who could be successors to chief executive Jaime Dimon, and the eurozone economy looks like it is recovering from the coronavirus pandemic. Plus, the FT’s Greater China correspondent, Kathrin Hille, explains why the world’s largest contract electronics maker, Foxconn, plans to be more integral to the auto industry.
JPMorgan elevates potential successors to Jamie Dimon
https://www.ft.com/content/9e31d7a7-4911-493b-919d-31e04d756438
Eurozone shows signs of bouncing back from double-dip recession
https://www.ft.com/content/c5de006b-6bdf-493d-a9bc-2f6a1871ba66?
Foxconn the carmaker? Disruption in the era of electric vehicles
https://www.ft.com/content/b229250d-5d9e-4bb1-bb91-e57888233a98
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Wednesday, May 19th. This is your FT news briefing. |
| 0:08.7 | JP Morgan has reshuffled its top ranks, lining up to women as possible successors to the bank's CEO, |
| 0:14.8 | Jamie Diamond. And the Eurozone is showing signs of recovering from the pandemic. Plus the Taiwanese |
| 0:20.7 | company that assembles your iPhones is shifting to bigger things. We'll tell you more about Fox |
| 0:25.9 | cons plans to make cars. The market for their products is moving there. |
| 0:33.6 | I'm Mark Filipino and here's the news you need to start your day. |
| 0:40.9 | The most powerful bank in the US announced a leadership shakeup yesterday. |
| 0:45.4 | JP Morgan Chase said one of two lieutenants to CEO Jamie Diamond will step down at the end of the year. |
| 0:51.2 | The bank also promoted two women executives to take over consumer and community banking, |
| 0:56.4 | a move that puts them in line to succeed Diamond. To help unpack these changes, I've got the FT's |
| 1:01.4 | new US banking editor, Joshua Franklin on the line. Hi, Josh and welcome to the FT. |
| 1:06.8 | Hi, thanks very much. So Gordon Smith is leaving. Daniel Pinto will become the bank's sole |
| 1:14.0 | president and chief operating officer. Tell us why Smith is leaving. |
| 1:19.8 | Yes, what the bank is saying is it was very much Gordon Smith's decision. He's been at the bank |
| 1:24.1 | a long time. He's had the role since 2018 and really, you know, living through through 2020 in a |
| 1:29.0 | position like his is a bit of a dog year. He had to help guide the bank through the COVID-19 |
| 1:32.9 | pandemic. And also, Jamie Diamond did have a health health scare last year, which meant that him and his |
| 1:38.0 | co-CO also had to take on a lot more kind of running for the day-to-day operations of the bank. |
| 1:42.7 | Smith as well told the financial times that he became a grandfather of a Christmas and then he had |
| 1:47.7 | the conversation with his wife and that kind of led him to the decision that that now was |
| 1:51.7 | or towards the end of this year with the right time for him to take a step back from the bank. |
| 1:55.9 | So, Josh, with Smith's departure, two women executives will now lead the consumer and banking |
... |
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