British single mother in running to take on top job at JP Morgan

A BRITISH banker is being tipped to become the first female boss of JP Morgan, following a major promotion.

Marianne Lake (picturedfarright) is moving from finance director to run the consumer lending and cards arm. It will give the 50-year-old crucial experience managing a major division at JP Morgan as she bolsters her credentials to succeed boss Jamie Dimon ( right). Lake will be the first female head of a Wall Street bank if she replaces Dimon, running a £285bn empire with 240,000 staff in more than 60 countries.

Dimon, 63, said in 2018 that he will probably run the bank for another five years. But analysts see single mother-of-three Lake as his successor. Glenn Schorr, at Evercore ISI, said: ‘Some people thought this amazing chief finance officer needed line experience, and now she’s going to get it.’ Lake was born in Maryland in the US to a British father and American mother. The family moved to the UK and she studied physics at Reading before getting into banking. She went to New York with JP Morgan in 2004 and rose rapidly through the ranks. Lake earned £12m last year, and has a JP Morgan shareholding worth up to £41m.