Kristin Lemkau, the CEO of Wealth Management, discusses her career journey and the challenges of being a single mom.

“I will be the first to know if I’m not succeeding, and I’ll share that,” she promised her superiors when she transitioned from Chief Marketing Officer to CEO of Wealth Management in late 2019. She emphasized her respect for her team by making this commitment.

She added with confidence, “I knew I would excel, and I did.”

The results back her claim. Under her guidance, the wealth management division expanded from $500 billion in assets to over $1 trillion, and the advisor count nearly doubled from 3,600 to more than 6,000. Her next target? $2 trillion in assets by 2030.

Making the Bold Move

Six years ago, Lemkau was satisfied in her role as Chief Marketing Officer, believing it would be her final position.

However, her superiors, including Jamie Dimon and Mary Erdoes, had other ideas. They tasked her with assessing the struggling wealth management sector. “They were either testing me, or it clicked,” she reflects, as they ultimately invited her to lead the division.

Initially, she felt conflicted, saying, “I loved that (CMO) role, and I thought… I can’t abandon my team.”

Lemkau remembered a pivotal moment with COO Jennifer Piepszak, who asked, “‘How would you feel if another person was announced for that position?’ I replied, ‘I’d feel sick.’ She then said, ‘Then you have your answer.’”

Despite the unconventional choice, Lemkau recognizes the synergy between the roles. “It’s about growth. Marketing is about expanding the business. If you know how to foster growth, you’ll excel as a CEO,” she explained.

Leading Through Profound Grief

In 2022, Lemkau faced a life-altering event with the loss of her husband, leaving her to raise their teenagers alone, aged 15 and 13.

“It’s hard to articulate the intensity of that experience,” she admits. Her grief was intensified by the fact her husband managed the home and cared for their children. “I didn’t know the passwords to anything. I hadn’t shopped at Costco. I hadn’t managed a bill in 17 years,” she recalled.

“My life was a logistical mess,” she stated. “You find ways to move ahead because you have to.” She took a two-month leave, appreciating the “extraordinary support” from her bosses.

“I made it clear my children would be my priority,” she noted, adding that she offered to step back from work if they desired.

“Both were adamant, like, no, no,” she laughed, understanding their perspective.

“They knew I was passionate about my work,” she said, believing they required their own space to process their emotions.

Now, her oldest is in college, her youngest is driving, and she feels content with her decision to return to her career. She typically dedicates ten hours daily at the office and carefully organizes her schedule.

“Everyone knows not to waste my time, or else... If I need to leave for my kids’ games, and they approach me with something trivial…,” she said, shaking her head no.

Kristin Lemkau’s Key Leadership Insights

Her experience as a single mom has reshaped how she leads her team. “I’m more attuned to people as whole individuals now, understanding that life events can significantly impact work performance beyond market fluctuations,” she expressed.

She acknowledged, “It’s often during challenging times that you truly develop empathy for others.”

When asked about the best advice she’s received, Lemkau reflected, “If you seek a larger role, expand your current responsibilities.”

“That advice resonated with me because many wait for an invitation to advance. Instead, just take the initiative, and by the time you get promoted, others will be surprised you didn’t already hold the position,” she clarified.

Ultimately, the most significant takeaway is the example Lemkau sets for others.

“I feel unstoppable now. I balance work and family, but I’m passionate about what I do. I genuinely love this company,” she added. “What I’ve accomplished in the past six years was challenging. I believe many people wouldn’t have managed it… My personal challenges have made me feel resilient.”