With speculations galore about JPMorgan Chase's proposed management changes, the foremost question is whether an heir is being considered to replace Chairman and CEO Jamie Dimon. However, there are indications that the 53-year old banker will not be leaving his post anytime soon.

Jes Staley, who presently is the company's head of asset management and a 30-year expert at the firm, is the first one in queue to change his role. He will be taking on the role of CEO of JPMorgan's prestigious investment bank division very soon. It is a very high-profile post that would appear to give him the inside track to the top job.

Apart from this, Steve Black, the present co-head of the investment bank unit, will now act as the executive chairman. Bill Winters, his counterpart, will likely bid adieu to the company after his 25-year tenure.

"Black will stay on in his current role until the end of 2010 to assist in the transition. The company did not provide information on Winters' future plans. Mary Callahan Erdoes, the CEO of the company's private bank division, is taking over Staley's position heading up the asset management business," as per the reports Tuesday.

As per Dimon, an improvement in market conditions was the key factor affecting the timing of the proposed changes.

While referring specifically to the changes in the investment bank division and not the company as a whole, he said, "With the credit crisis largely behind us and the economy recovering, the timing was right to begin the succession process."

Nancy Bush, an independent analyst expressed, "All the banks are being urged to have some succession plan in place. Obviously for JPMorgan it's way premature. This is sort of a quasi-succession plan. ... It simplifies the whole investment banking [unit]."