Marianne Lake spent 26 years rising through the ranks at JPMorgan Chase. It came to an end in a matter of days.
Lake, 56, was given just three days’ notice last month that chief executive Jamie Dimon was elevating two rivals above her, making them his heirs apparent as a decades-long succession race nears its finale.
More than just a snub, Dimon was giving one of the others Lake’s role running the bank’s vast Chase consumer business. Dimon did not go so far as to say there was no longer a role for Lake, but the message was clear.
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