JPMorgan Chase Chairman and CEO Jamie Dimon testifies during a Senate Banking Committee hearing on December 6, 2023, at the Hart Senate Office Building in Washington, DC.
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Jamie Dimon’s time as CEO JP Morgan Chase It’s numbered, but it’s unclear how many.
Mr. Dimon responded Monday to questions about the bank’s succession plans, suggesting he expected to remain in office for less than five years. This is a significant change from Mr. Dimon’s previous responses to the succession issue. His standard answer at that time was that his retirement was forever five years away.
“The timeline is no longer five years,” Dimon said at the New York-based bank’s annual investor conference.
The timing of JPMorgan’s successor is one of the persistent questions for the bank’s investors and analysts, as Mr. Dimon’s plans are vague. Over nearly two decades, Mr. Dimon, 68, built his lender into one of the largest in the United States by assets, market capitalization and several other metrics.
Still, Mr. Dimon added Monday that he still has “the same energy as ever” in running his vast company.
Dimon said the decision on when to step down ultimately rests with JPMorgan’s board of directors, and urged investors and analysts to consider who could replace him.
At the top of the shortlist of candidates are Marianne Lake, CEO of JPMorgan’s consumer bank, and Jennifer Piepszak, who co-leads the company’s commercial and investment bank. The executives were given their latest assignments in January.
“We’re on our way and moving people around,” Dimon said.
But even if he were to step down as CEO, JPMorgan said he would likely remain the bank’s chairman.
