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Market news & articles

JPMorgan taps Petno and Rohrbaugh as co-presidents in succession move; Lake to retire

JPMorgan said Doug Petno and Troy Rohrbaugh were appointed co-presidents effective immediately as part of the board’s succession planning process. Petno will serve as sole CEO of the Commercial & Investment Bank, Rohrbaugh will lead Consumer & Community Banking, and Marianne Lake will retire after a transition period.

Geopolitics & Trade · 10 days ago

Global shares advance and oil falls after Trump says U.S. and Iran signed a preliminary deal to reopen Hormuz

Global stock indexes and bond prices rose while oil declined after President Donald Trump said the United States and Iran had signed a preliminary agreement that would extend a ceasefire by 60 days and reopen the Strait of Hormuz, though terms were not released and both sides said a permanent truce remains under negotiation.