JP Morgan has named Marianne Lake, currently chief financial officer of its consumer and community banking business, as CFO for the entire US banking group, effective from early in 2013.

She will succeed Doug Braunstein, who will become a vice chairman of the company following Lake's move into the CFO position. 

Before Lake took on her current role, she served as global controller of the investment bank from 2007 to 2009. From 2004 to 2007, she was in the corporate finance group managing global finance infrastructure and controls functions. Prior to 2004, she was the senior financial officer for the company in the UK. She began her career as a chartered accountant at PriceWaterhouseCoopers in its London and Sydney offices.

In his new job, Braunstein “will focus on serving top clients of the firm”, JP Morgan said. Prior to taking on his CFO role in June 2010, he served as head of investment banking Americas from 2008, and, prior to that, he held several other senior investment banking positions, including head of investment banking coverage and mergers and acquisitions.