In the fast-moving world of the financial industry, Marianne Lake stands out as a formidable leader, currently serving as Co-CEO of Consumer and Community Banking (CCB) at JPMorgan Chase. With a career spanning two decades at the institution, Lake has successfully taken on various roles, demonstrating resilience and strategic acumen.
In her current position, Lake shares leadership responsibilities for CCB, overseeing operations that cater to nearly 80 million consumers and 5.7 million small businesses in the United States. Her portfolio includes guiding payments, lending, and commerce, with a focus on industry-leading lending businesses like card services, home lending, and auto finance.
Lake's career at JPMorgan Chase has had a notable trajectory. From her role as CFO for the firm, where she managed Finance and Business Management, Investor Relations, and other critical functions, to leading the Consumer Lending division, she has consistently showcased leadership prowess. As the CEO of Consumer Lending, she steers Chase Card Services, home lending, and auto finance, contributing to the bank's substantial client assets totaling $4.3 trillion in its asset and wealth management division.
Beyond her corporate responsibilities, Lake is recognized for her commitment to diversity and inclusion. As a co-founder of the Women on the Move initiative and the Operating Committee sponsor of the Access Ability business resource group, she actively supports initiatives promoting gender equality and inclusivity at JPMorgan Chase.
Her strategic mindset and ability to navigate challenges were evident in the acquisition of First Republic's assets, a move that significantly expanded JPMorgan's financial advisor count and client assets. Lake, along with her colleague Jennifer Piepszak, efficiently incorporated the new assets, emphasizing the importance of retaining First Republic advisors and ensuring a smooth transition.
Reflecting on broader challenges in the industry, Lake highlights the rapid pace of technological advancements as a key concern. While acknowledging the opportunities technology brings, she emphasizes the need for responsible and controlled innovation across the banking sector.
In her multifaceted role, Lake recognizes the importance of measuring productivity and success through the right metrics while emphasizing the significance of emotional intelligence in leadership. With approximately 130,000 employees under her leadership, she values a scorecard that balances culture, people, controls, and business results.
Outside the professional realm, her commitment extends to initiatives supporting women-run businesses and employees dealing with disabilities or illnesses. Her leadership in fostering a positive work culture aligns with her vision of success as a leader, combining both IQ and EQ.
As Lake continues to shape the trajectory of JPMorgan Chase, her role as a potential successor to CEO Jamie Dimon underscores her impact on the financial industry. In navigating challenges and fostering inclusivity, Lake stands as a testament to effective leadership in a complex and dynamic sector.