(Bloomberg) -- JPMorgan Chase & Co.'s Daniel Pinto is moving to New York City as he prepares to assume the role of sole president and chief operating officer at the biggest U.S. bank.
Pinto, who has been based in London for more than 20 years, will officially move to the Big Apple by March or April, according to a company spokesperson. He is set to become the sole top lieutenant to Chief Executive Officer Jamie Dimon with the year-end retirement of current co-president and co-COO Gordon Smith.
“Daniel's decision to move to New York is one that makes sense both personally and professionally,” JPMorgan spokesperson Brian Marchiony said in a statement.
Pinto, 58, is a native of Argentina. He already spends nearly half his time in New York, often traveling back and forth multiple times a month. He spent a month in a Midtown Manhattan hotel last year as acting co-CEO while Dimon was sidelined by emergency heart surgery just as the coronavirus pandemic roiled markets.
In recent years, Pinto has taken a more active role overseeing operations firm-wide after being named co-president and co-COO alongside Smith in 2018. He's been particularly focused on technology, payments and customer experience, according to a person familiar with his leadership style.
Pinto continues to oversee the corporate and investment bank, of which he has been sole head of since 2014. He's widely seen as the obvious emergency replacement for Dimon, who has long said he plans to stick around at least five more years, but less likely in a slow and orderly handoff.
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