JPMorgan has renewed its senior team and makes Daniel Pinto its sole president

JPMorgan Chase has shaken up its main team with Gordon Smith, one of the heads of executive Jamie Dimon, with the intention of resigning at the end of the year.

Smith was president and chief executive officer alongside the head of investment banking, Daniel Pinto, and also led the bank’s consumer. After leaving, Pinto will become president and sole COO.

Smith will continue with JPMorgan as senior advisor to Dimon and other executives.

“Professionally, Gordon has been an extraordinary business leader and partner for the past 13 years,” Dimon said in a note. “I am pleased and our senior management team will continue to be a wise resource.”

Marianne Lake, head of the bank’s consumer lending units, and Jennifer Piepszak, chief financial officer, will become head of JPMorgan’s consumer and community banking unit.

Jeremy Barnum will replace Piepsza as the bank’s chief financial officer.

Lake and Piepsza are seen as a potential replacement for Dimon when he finally ceases to be CEO. Dimon has run the bank since 2006.

“It’s personally bittersweet for me to leave this first-class team, but I’m happy to support it as I move forward and I’m happy with the bright future of the company,” Smith said.