Dive Brief:

• Sanoke Viswanathan, JPMorgan Chase’s CEO of international consumer and wealth, is leaving the bank to become CEO of FactSet in September, the data and software firm said Tuesday.
• Marianne Lake, the lender’s CEO of consumer and community banking, will assume leadership of international consumer banking and the bank’s strategic growth office, JPMorgan CEO Jamie Dimon and President Daniel Pinto wrote in a Tuesday memo to employees, seen by Banking Dive. 
• Lake, seen as a potential successor to Dimon, “will continue to build on” the achievements of those two units “as we expand our consumer franchise beyond the U.S.,” Dimon and Pinto wrote.

Dive Insight:

Viswanathan, who’s spent 15 years in leadership roles at the bank, is also a member of JPMorgan’s operating committee. In leading strategy for several years, he has overseen a number of strategic investments and acquisitions at the bank, Dimon and Pinto wrote.

Viswanathan helped create international consumer banking, which now has some 2.5 million customers in the U.K. and is set to expand across Europe and beyond, Dimon and Pinto said. Chase in the U.K. launched in 2021. Pinto indicated in late 2023 it was expected to break even in 12 to 18 months.

Viswanathan’s purview has extended across business lines: In addition to the ICB role, he has overseen the international private bank and workplace solutions businesses within JPMorgan’s asset and wealth management unit. 

He’s also served as chief administrative officer of what is now the commercial and investment bank, leading those who laid the groundwork for what became digital and platform services, Dimon and Pinto said. Prior to his time at JPMorgan, Viswanathan spent about a dozen years at McKinsey & Co., according to his LinkedIn profile.  

“Sanoke has made an indelible and positive impact on JPMorgan Chase, and we have greatly benefited from his entrepreneurial mindset,” Dimon and Pinto wrote.

Lake and Mary Erdoes, the CEO of JPMorgan’s asset and wealth management business, “will make further announcements as they implement succession for the businesses that Sanoke has led,” Dimon and Pinto wrote. “We are fortunate to have strong leadership teams in all of these businesses, and Sanoke will work closely with them to ensure an orderly transition.”

The move further expands the purview of Lake, one of the top contenders to replace Dimon at the helm of the nation’s largest bank. She’s been with JPMorgan for 25 years, doing stints as CEO of consumer lending and CFO. Last year, Dimon, 69, indicated his retirement could be less than five years away, although during a Fox interview Monday, he seemed to contradict that, saying his retirement is still “several years away.”