>> no, i don't speak to daniel pinto, you are referring to jp morgan and mr. eed to speak. >> who is retiring. he is the president and chief operating officer. he will be relinquishing those responsibilities at the end of june, retiring from the firm at the end of 2026. he has frequently been referred to by ceo jamie diamond as his sort of hit by the bus replacement so to speak, a great replacement. yeah. he is being replaced by jennifer piepszak who will assume the role of president and ceo of jp morgan but she is not in the running is the understanding that we have as well and i think leslie picker was reporting on this, for ceo. that according to a source that leslie has familiar with the matter. so interesting, succession at jp morgan. jamie is in his late 60s. my understanding based on casual conversation i had with people at the firm and the like is their expectation is he is going to be there until the building is done, an incredible structure they have going up. it is up but they have to finish it. it will be a little while. >> do you go to wells fargo?

daniel pinto the jp morgan president and coo is retiring at the end of 2026.e-chairman. the current co-chief executive officer of the commercial and investment bank will be the new coo. traffic in the busiest section in manhattan fell 7.5% during the first week of the congestion pricing plan. the data shows that troubled times fell on most major crossings and the mta hopes that the plan will reduce traffic even as driving picks up in the spring and summer. officials expect to release more data on new collection data in the coming weeks. jonathan: thank you. speaking to the cabdrivers over the last few weeks and we have the same conversation. so, it is quieter, is it? just because it is january and cold what do you believe is congestion? what do you say? jonathan: others think it is january or the congestion pricing. tings will pick up again in a few weeks. lisa: that does not make sense because if it was just cold in the winter wouldn't you want to drive rather than walk? just saying? jonathan: maybe they are just going into the city. i am just giving you the

the vanke named a replacement for daniel pinto. she is exiting her role as ofs the co-ceo of commercial and investment banking at jp morgan and will work alongside pinto until he officially leaves the role june 30. this leaves the ultimate question of who will replace jamie dimon unanswered. >> this is probably the best bench in banking, period, end of sentence. the company has done a great job getting these in front of everybody. i think that everybody is comfortable with the next successor. sonali: we are joined by a senior reporter from bloomberg covering banking. when we think about what happened at jp morgan i will steal a line from mike mayo. confused. the idea that she does not want the ceo job leaving succession open. sri: one jeff bezos talks about the washington post he talks about a complex of fire. somebody like jennifer piepszak is replacing a 40 year veteran of the firm. in the same breath the banking tells us she's not interested in being the ceo. the most interesting thing about the management changes is to figure o

morgan, the company's chief operating officer, daniel pinto operating -- and i think he is going to beerve as the advice chair but a very important role and i should say that daniel pinto effectively was running the bank, jennifer piepszak has been named the c.o.o. of the company, as a potential successor, j.p. morgan set to report earnings tomorrow morning so we may hear more about this tomorrow but of course, jennifer piepszak , has been speculated about, but daniel pinto played a pivotal role inside the bank and was literally running the bank when jamie had his heart trouble. leslie picker is joining us now to walk through what this all means. >> hey andrew, it is important to emphasize pinto and his role, he has been a key operator, he has been with the bank for about four decades and gave about two years notice for a timing -- retiring. jamie diamond, essentially his own words, if something catastrophic or emergency would have happened, pinto would have been ready to fly in on day one, as for who takes over for diamond, that timeline is still less than five years, as diamond menti

obviously, in the case of jpmorgan where this morning daniel pinto said he will be stepping down at soment at the firm. is this the end of an era? is it just, you know, hey, we have some earnings coming up? is there anything to read into strategically? >> both companies report earnings tomorrow. it's not necessarily a coincidence those news items of only og out today. the weidemann news was expected a little bit later. it's not like there was a memo that circulated or anything like that. i haven't gotten a hold of any specific details internally from the company. that said, you know, you have got this kind of inflection point where you have got these leaders and you have got the kind of bench of people, bench of candidates who could ultimately take their job. larry fink and jamie dimon are well respected, very eloquent leaders that have just driven tremendous change within their respective areas. and so kind of the parlor games of who will fill that seat, if you are looking around and saying, well, this may not happen for a while, it's just going to be time for me to go and/or if you, yo

jp morgan chase announcing this morning that daniel pinto is president and chief operating officer will be stepping down in june protesters we heard from yesterday when a public takeover of the health care industry which they say putting profits over people. we spoke with a few people attending the conference this morning. here's what they're telling us about safety. >> i think security is very good. things have just gotten a great job. the police presence is significant here. i have felt uncomfortable on one or 2 occasions when walking by people >> i have it engage me verbally. i think the security has been top notch i have notes. safety at all? you know, i think the cities and a good job trying do the best they can to make this up. eyes of a man. >> i've been coming to this conference for 15 years and i've never seen so many police officers at the jp morgan conference ever before. so i think it really double down on security. according to the san francisco travel association, this conference is one of the most significant the city sees all year, bringing in. >> estimated 92 million do

jp morgan just announcing this morning that daniel pinto, its president and chief operating officer, is stepping in stepping down rather in june. lot of people are upset. those protesters saying that health care industry is putting profits over people. they want that to change. we spoke with a few people who are attending today. here's what they're saying about safety in san francisco. >> i think security is very good. things have just gotten a great job. the police presence is significant here. i have felt uncomfortable on one or 2 occasions when walking by people i have it engage me verbally. i think the security has been top i have notes. >> for my safety and all, you know, i think the cities and a good job trying do the best they can to make this up. a positive event. >> i've been coming to this conference for 15 years and i've never seen so many police officers at the jp morgan conference ever before. so i think it really double down on security. now, according to the san francisco travel association, this conference is one of the most significant in this city. >> bringing in es

and new at this hour, jp morgan just announcing this morning that daniel pinto, its president and chief operating officer, will be stepping down in june is retiring after running one of the leading financial companies in the u.s. protesters gathered here in union square for the first day of the conference monday. protesters are calling for a public takeover of the health care industry which they say is putting profits over people. ceo of a health care company here in berkeley tells us that she's impressed with the security she's seen here so far. >> this is like the super bowl of health care. this is where everybody comes to kick off the year and talk about all the innovation that's happening in pharma. biotech and medicines are trying to make an meet and mix and mingle. so it's a great opportunity for i've been coming to this conference for 15 years and i've never seen so many police officers at the jp morgan conference ever before. so i think it really double down on security. according to the san francisco travel association. the conference is one of the most significant in the city

daniel pinto, when he was moved over to this officer rowley year ago from the head of -- office rolenever considered the heir apparent. they were the leading horses. now jen will be the chief operating officer. lake runs the largest division, the consumer banking business. a couple of the other executives heading up the commercial investment bank will maybe consider heir apparents as well. jonathan: just getting wells fargo so hold on a second. i want to cross over from manus cranny. manus: a beat for wells fargo. the estimate out there was for 11.7. it's about reporting in the first series of rate cuts we have seen for five years. always an interesting one at $1.21 billion. that is there net charge-offs. the guidance for 2025 for net interest income is expected to be about 1% to 3% above 2024. that is a comfortable beat on the net interest outcome at wells fargo and guidance of 1% to 3% above 2024. let's dive into j.p. morgan. j.p. morgan, the fourth quarter. i will jump straight to this charge-offs. it's in line. $2.36 billion. this is on j.p. morgan. the fixed income sales and tra