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Marianne Lake

CEO of Consumer & Community Banking at JPMORGAN CHASE &
Since January 1, 2024
Age
55 years
Education
Earned a Bachelor of Science in Physics from Reading University in the United Kingdom.
Tenure
Joined JPMorgan over 25 years ago and held various key roles including Global Controller for the Investment Bank, CFO of Consumer & Community Banking, CFO of JPMorgan Chase, CEO of Consumer Lending, Co-CEO of Consumer & Community Banking, and ultimately became the sole CEO of Consumer & Community Banking in January 2024.

Also at JPMORGAN CHASE &

About

Marianne Lake has built an impressive career underpinned by a solid educational foundation, having earned a Bachelor of Science in Physics from Reading University in the United Kingdom. Her early experience working as a chartered accountant at PricewaterhouseCoopers in London and Sydney set the stage for a long career in finance.

Over the course of more than 25 years at JPMorgan, she advanced through multiple significant roles. She served as the Global Controller for the Investment Bank, CFO of Consumer & Community Banking, and CFO of JPMorgan Chase. Later, she led the Consumer Lending division before stepping into leadership as Co-CEO and then as the sole CEO of Consumer & Community Banking in January 2024.

Beyond her formal roles, her career is distinguished by her strategic contributions to the firm's financial management and business innovation. Notably, she is a co-founder of the Women on the Move initiative, underscoring her commitment to fostering diversity and equality within the organization. Her journey reflects a blend of strong technical expertise and visionary leadership, impacting both the operational and cultural dimensions of the organization.

Past Roles

OrganizationRoleDate RangeDetails
JPMorgan Chase Co-CEO of Consumer & Community BankingMay 2021 - January 2024Former role
JPMorgan Chase CEO of Consumer LendingMay 2019 - May 2021Former role
JPMorgan Chase Chief Financial Officer for the FirmJanuary 2013 - April 2019Former role
JPMorgan Chase CFO of Consumer & Community Banking2009 - 2012Former role
JPMorgan Chase Global Controller for the Investment Bank2007 - 2009Former role

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Salary $750,000AnnualFixed base salary component
RSUs 35,796 RSUs, $5,025,000 fair valueVest in two installments: January 13, 2025 and January 13, 2026Grant Date: January 17, 2023; includes non-preferential dividend equivalents; based on the average of high and low prices on the grant date

Performance Compensation

Data from  FY 2023

Cash Incentive Compensation

MetricDetails
Amount $7,100,000
Payment Schedule Awarded in January following the performance year (January 2024)
Performance Metrics Not specifically provided; evaluated using a balanced holistic approach across multiple dimensions
Additional NotesPaid in cash; not subject to vesting schedules

Performance Share Units (PSUs)

MetricDetails
Performance Metric Return on Tangible Common Equity (ROTCE) with absolute thresholds: maximum payout at 18% and zero payout below 6%
Relative Performance Compared against a peer group including Bank of America, Barclays, Citigroup, Goldman Sachs, Morgan Stanley, etc.
Risk-Based Hurdle CET1 capital ratio below 8% may trigger a downward adjustment
Adjustment Provision CMDC may adjust PSUs to maintain intended economics due to changes in accounting rules, capital structure, or other circumstances
Grant Details Grant Date: January 17, 2023; Grant Date Fair Value: $5,325,000
Vesting Schedule 3-year cliff vesting (ending on March 25, 2026) followed by an additional 2-year holding period (total of 5 years)
Payout Range Ranges from 0% to 150% of target shares
Dividend Equivalents Reinvested during the vesting period