Jes Staley has emerged as the one most likely to run JPMorgan if CEO Jamie Dimon is, say, hit by a bus or named U.S. Treasury secretary.
But before that became clear, Staley, 53, head of asset management, had to run JPMorgan’s biggest profit center: the investment bank. Happily, that’s where he’d originally made his career as a founder of the equity business. So in September, Dimon chose Staley to head investment banking.
A lifer who joined JPMorgan out of college in 1979, the strong-willed Staley had impressed Dimon by embracing two things that the CEO himself hated — hedge funds and closed architecture — and making them work.
