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NY Post
New York Post
29 May 2024


NextImg:JPMorgan’s Jamie Dimon says he could step down as CEO in as little as 2.5 years

JPMorgan Chase CEO Jamie Dimon said Wednesday that the split between chairman and CEO roles in the bank are overstated while adding that he and the board will do the right thing on succession.

Dimon told investors that the bank has an extraordinary management team and reiterated that the timeline was less than five years while adding that it could be anywhere from 4.5 years to 2.5 years and it is up to the board to make that decision.

Jamie Dimon told investors that the bank has an extraordinary management team and reiterated that the timeline was less than five years. AP

He has run the largest US lender for more than 18 years. As one of the longest tenured bank chiefs on Wall Street, his future plans have long been a subject of speculation.

At its investor day earlier this month, Dimon namechecked senior JPMorgan executives who run major divisions as CEO candidates.

JPMorgan’s board recently identified Jennifer Piepszak and Troy Rohrbaugh, co-CEOs of its commercial and investment bank, as candidates for the top job. Marianne Lake, CEO of consumer and community banking, and Mary Erdoes, CEO of asset and wealth management, are also in the running.

Several executives who served under Dimon have gone on to run other banks.

JPMorgan sign
At its investor day earlier this month, Dimon namechecked senior JPMorgan executives who run major divisions as CEO candidates. Christopher Sadowski

JPMorgan plans to split its chairman and CEO roles when Dimon eventually steps down, it has said in a regulatory filing earlier this year.