JPMorgan’s Petno Leaps Into CEO Race After Pair of Promotions

Only one year ago, Doug Petno ostensibly suffered a Wall Street indignity: he got “layered.”

One minute, Petno was leading one of JPMorgan Chase & Co.’s four business lines, commercial banking. The next, his division was tucked inside another, and he was reporting to a pair of rising stars poised to potentially succeed longtime Chief Executive Officer Jamie Dimon when he someday retires.