JPMorgan CEO Jamie Dimon signals retirement is nearer than ever

Jamie Dimon, Chairman and CEO of JPMorgan Chase, testifies at some level of a Senate Banking Committee hearing on the Hart Senate Position of business Building on December 06, 2023 in Washington, DC.

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Jamie Dimon‘s days as CEO of JPMorgan Chase are numbered — though it is unclear by how grand.

In a response to a request Monday about the bank’s succession planning, Dimon indicated that his expected tenure is decrease than five extra years. That can perchance per chance very nicely be a key swap from Dimon’s previous responses to succession questions, in which his fashioned solution had been that retirement turned into perpetually five years away.

“The timetable is no longer five years anymore,” Dimon mentioned on the Original York-based mostly exclusively mostly bank’s annual investor meeting.

The paradox of Dimon’s plans has made succession timing at JPMorgan one in every of the continual questions for the bank’s merchants and analysts. Over nearly two a protracted time, Dimon, 68, has made his lender basically the well-known in America by property, market capitalization and several other measures.

Quiet, Dimon added Monday that he mild has “the vitality that I’ve always had” in managing the sprawling company.

The choice of when he strikes on will within the ruin be up to JPMorgan’s board, Dimon mentioned, and he exhorted merchants and analysts to search for the executives who might perchance perchance rob his place.

Atop the quick list of candidates is Marianne Lake, CEO of JPMorgan’s person bank, and Jennifer Piepszak, who co-leads its industrial and investment bank. The executives had been given their newest assignments in January.

“We’re on the manner, we’re transferring individuals round,” Dimon mentioned.

Even when he steps down as CEO, nonetheless, it is probably going he’ll conclude on because the bank’s chairman, JPMorgan has mentioned.

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