- Jamie Dimon offered more clues on what his life could look like after he eventually relinquishes his role as CEO of JPMorgan Chase. In an interview with CBS, he acknowledged that it’s likely he could stay on as chairman for a few years.
Succession at JPMorgan Chase has been an ongoing parlor game on Wall Street as Jamie Dimon’s tenure as CEO of the world’s biggest bank by market cap approaches 20 years.
He had long joked that retirement was five years away, but admitted last spring that the timetable is “not five years anymore.”
In an interview with CBS that aired on Sunday, he offered more clues on what his life could look like after he eventually steps down.
“Last time I was asked, I said, less than five years,” Dimon said. “But when you say ‘retire,’ I’m not going to retire like that. I may write a book. I may teach. I may work with my kids, if they want. I would never pressure them to work with me.”
When asked if he would step down as CEO but remain as chairman, he said that it’s “likely” to happen, though the board will ultimately decide. “But if it makes sense, I may be chairman for a couple years.”
Dimon was then asked if he knows who his successor will be, and he replied “no.”
To be sure, JPMorgan does have a plan in place in case something suddenly happens to Dimon, who has had two major health scares.
In August, he confirmed that the bank’s emergency CEO successor remains Daniel Pinto, calling him the “hit by a bus” pick. The Argentina native was named co-president and chief operating officer in January 2018, and became president and COO in January 2022.
For now, Dimon doesn’t sound very eager to retire, telling CBS that, “I love my job. I love what it does. I like our people. It motivates me.”
He added later, “I think it’s great to have a purpose in life. You know, paint your Picasso.”