JPMorgan CEO Jamie Dimon said his gig isn’t up at America’s largest bank on Monday, insisting in an exclusive interview with Fox Business that his retirement is “several years away.”
The bank’s succession planning has been under scrutiny on Wall Street in recent months as Dimon approaches two decades in the top job.
“Obviously, it’s always up to God and the board,” the 69-year-old told Maria Bartiromo.
“We’ve got some great people: there will be an appropriate time,” he added. “I may stick around for a couple of years as chairman or executive chairman. I love what I do”
noti.group’s Charlie Gasparino reported last week that Dimon would indeed decide to stay on in his role as CEO and that his imminent departure from the firm was far from a foregone conclusion.
The long-serving chief executive also weighed in on defense spending, insisting that the United States should be “stockpiling bullets, tanks, missiles” rather than bitcoin.
“National security is a critical thing. So the most important thing, to me, in trade is going to be protecting our own national security,” Dimon told Bartiromo.
Speculation swirled over when the Queens native might leave the bank during last year’s presidential campaign, when his name was repeatedly floated as a possible pick for Treasury secretary.
When the banking veteran told JPMorgan’s investor day in May of last year that his succession timeline was not five years anymore, it led to an immediate decline in the firm’s stock price.
His views on the economy have often been sought by both Democratic and Republican administrations. The Post exclusively reported in November that senior members of Donald Trump’s campaign team had been using Dimon as a “sounding board” for some of the commander-in-chief’s economic policies.
An interview Dimon gave to Fox Business earlier this year is credited with convincing the president to soften some of his tariff plans.
The JPMorgan boss on May 22 warned about the risk of “stagflation” – low growth, high unemployment and rising prices – if there is a global trade war.
Four names are considered to be in the frame to take over the reins from Dimon.
They are Marianne Lake, the company’s head of Consumer & Community Banking, co-CEOs of JPMorgan’s investment banking operations, Doug Petno and Troy Rohrbaugh, and Mary Erdoes, who leads its asset and wealth management unit.
A veteran of more than three decades at JPMorgan, chief operating officer Jennifer Piepszak was one of the frontrunners to succeed the Queens native until she withdrew from the competition in January, insisting she did not want the top job.
Dimon also has another reason to stick around: the bank is building a $3 billion, 60-story headquarters at 270 Park Ave in midtown Manhattan that will include a yoga studio, a food court and even a pub.
He has been a vocal critic of working from home and is slowly forcing staffers back to the office five days a week, scrapping a Covid-era policy that he sees as leading to lower levels of productivity.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
