Jennifer Piepszak has been chief financial officer of
Chase, the largest U.S. bank, since May 2019. She spent 26 years before that in other leadership roles, in areas including business banking, mortgages, and credit card operations.
Outside the bank, the CFO is on the board of United Way of New York. This is her second year on the Barron’s list.
Last year was particularly challenging, as “everything that could happen to a bank happened,” she tells Barron’s.
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Like other financial companies,
JPMorgan set aside money in case of credit losses, then got to release that money from reserve at the end of the year, when the anticipated losses didn’t happen. Throughout last year, JPMorgan extended credit and raised $2.3 trillion in capital for businesses and institutional clients as well as U.S. consumers. But that’s all a part of managing what CEO Jamie Dimon calls the “fortress balance sheet.”
While she has been back in the office on a regular basis since last summer, Piepszak, 51, says she took advantage of virtual technology to expand her professional network—taking time to get to know the finance chiefs at
among others—something that wouldn’t have happened before the pandemic upended work life as we know it. “An introduction doesn’t have to be in person,” she says. “Now we’ll stay in touch regardless.”
Write to Liz Moyer at [email protected]