Jamie Dimon, chairman and CEO of JPMorgan Chase, testifies during a hearing before the Senate Banking Committee at the Hart Senate Office Building on December 6, 2023 in Washington, DC.
Win Mcnamee | Getty Images
Jamie Dimon’s days as CEO JPMorgan Chase are numbered – although it is unclear how many.
In response to Monday’s question about the bank’s succession plans, Dimon indicated that his expected term is less than five years. This is a key change from Dimon’s previous answers to succession questions, where his standard answer was that he was always five years away from retirement.
“The timetable is no longer five years,” Dimon said at the Novel York bank’s annual investor meeting.
The ambiguity of Dimon’s plans has made the timing of the succession at JPMorgan one of the ongoing questions for the bank’s investors and analysts. Over the course of nearly two decades, Dimon, 68, has built his lender into America’s largest by assets, market capitalization and several other metrics.
Still, Dimon added Monday that he still has “the energy I’ve always had” in running the sprawling company.
The decision on when he leaves will ultimately rest with JPMorgan’s board, Dimon said, urging investors and analysts to vet the executives who could take his place.
He is at the top of the shortlist of candidates Lake MariannaCEO of JPMorgan consumer bank and Jennifer Piepszak, who co-heads his commercial and investment bank. The directors received their latest tasks in January.
“We’re on the way, moving people,” Dimon said.
But even if he steps down as CEO, he will likely remain the bank’s chairman, JPMorgan said.
