One was in the car with her family, the other had his phone off, when Jamie Dimon began dialing their numbers on a Saturday in January with a question: Could they run a Wall Street operation bigger than Goldman Sachs?
Jamie Dimon --
Rohrbaugh, visiting his mother in a Baltimore hospital, turned on his device to discover a series of missed calls from a blocked number, as well as his then-boss. “She’s like, ‘Don’t you think you should call back?’” Rohrbaugh recalled. “I said, ‘Well, either the building’s on fire, I’m getting promoted, or I’m getting fired.”In less than a week, Piepszak and Rohrbaugh were running a division with more than 90,000 people around the world — roughly twice the headcount at Goldman Sachs Group Inc.
“Having to do investor day was actually super helpful,” Rohrbaugh said. Otherwise, “what took us three months would’ve taken us 12-plus.” On another front, JPMorgan is hiring traders and bankers in Japan, and more bankers in India, both of which Piepszak called “outsized opportunities.” In the US, the firm plans to expand in more than a dozen middle-market cities by the end of 2025.
“The nonbank space is deeper and getting stronger,” Piepszak said. “I was surprised – it’s everywhere and it’s category by category, and in almost every case they’re strengthening.”Piepszak and Rohrbaugh’s careers have been crisscrossing for about a decade. It started when she was running business banking, and he was leading foreign-exchange trading, and their operations developed a partnership.
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