JPMorgan Chase CEO Jamie Dimon, 69, has been working the largest financial institution within the U.S. for practically 20 years. Now, in a taped interview that aired Monday on Fox Enterprise, Dimon says his retirement from JPMorgan remains to be “a number of years away,” and that the financial institution’s administrators have the ultimate say on precisely when it’s going to happen.
“It is as much as God and the board,” Dimon mentioned. “There will likely be an applicable time, after which I could stick round for a few years as chairman or govt chairman. I like what I do.”
Associated: JPMorgan Chase CEO Jamie Dimon Shares 4 Suggestions for Leaders
Dimon grew to become CEO of JPMorgan in 2006, after serving because the financial institution’s chief working officer. For years, he used to joke that retirement was 5 years away, irrespective of when he was requested.
Nevertheless, Dimon modified his tune on the firm’s annual 2024 Investor Day, stating on the occasion that the “timetable” for his retirement was “lower than 5 years” away and that the corporate was “on the way in which” to discovering his successor.
At JPMorgan’s 2025 Investor Day in Might, Dimon affirmed his plans to retire as CEO throughout the subsequent couple of years, although he has but to select a successor publicly.
“The board has intent… to be interested by succession, and we ought to be doing that,” Dimon mentioned on the occasion, per Barron’s.
Jamie Dimon. Photographer: Qilai Shen/Bloomberg by way of Getty Photographs
At Investor Day this yr, attendees had been analyzing key executives within the working to take over as CEO when Dimon retires. In line with The Wall Avenue JournalJPMorgan’s CEO of client and group banking, Marianne Lake, 56, is a high contender for the CEO spot. Lake runs Chase Financial institution and its bank card enterprise.
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Different CEO contenders embrace the co-heads of JPMorgan’s company and funding financial institution, Doug Petno, 59, and Troy Rohrbaugh, 55.
Beneath Dimon’s management, JPMorgan’s internet revenue has doubled from $29.13 billion in 2020 to a record-high $58.5 billion in 2024. Dimon obtained an 8.3% increase final yr, lifting his pay from $36 million in 2023 to $39 million in 2024.
JPMorgan shares have grown by over 130% prior to now 5 years.
For aspiring CEOs, Dimon suggested anybody who desires to be in his sneakers someday to “study” and “learn the whole lot,” he advised Fox Enterprise. He recommends getting “out on the street,” exploring the world, and treating individuals with respect, from the lowest-ranking worker to the best.
JPMorgan Chase CEO Jamie Dimon, 69, has been working the largest financial institution within the U.S. for practically 20 years. Now, in a taped interview that aired Monday on Fox Enterprise, Dimon says his retirement from JPMorgan remains to be “a number of years away,” and that the financial institution’s administrators have the ultimate say on precisely when it’s going to happen.
“It is as much as God and the board,” Dimon mentioned. “There will likely be an applicable time, after which I could stick round for a few years as chairman or govt chairman. I like what I do.”
Associated: JPMorgan Chase CEO Jamie Dimon Shares 4 Suggestions for Leaders
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