Last year, JPMorgan Chase, the day of the investor, Dimon, said that the calendar for his departure was “less than five years”. When asked on Monday how many years he would remain as CEO, Dimon said: “The intention is the same as last year. Nothing has changed at all.”
Dimon, who spoke last Monday, presented what he considers the solid leadership pipeline of the bank. He said Jpmorgan Chase, who has $ 4.4 billions of dollars in March 31, built a “very deep bench” and expressed his confidence that the bank would prospere, no matter who serves as a leader, said Dimon.
The CEO of JPMorgan Chase said it was prudent to think of success, but if it remains is not his choice. Dimon, who is 69, is relatively young for a CEO of financial services. Stephen Schwarzman, Chairman and Chief Executive Officer of Blackstone, is 78, while Larry Fink of Blackrock is 72 years old.
“Obviously, it’s on the board. If I am here for four years or two or three or three, it’s long. It’s like a large part of the current value of the world, okay? ” Said Dimon.
Dimon’s retirement, and which will replace it, is a burning subject of chatter of Wall Street. Earlier this year, during a town hall, Dimon told employees that he planned to remain CEO “for a few more years” and would then go to the post of president, Fortune reported in March.
“Investors [are] Not quite ready for CEO Jamie Dimon to go to the stick, “wrote Ebrahim Ponawala, research analyst of the Bank of America in a search note of May 15.
3 potential successors
Dimon is one of Wall Street’s most prosperous CEOs. Since taking care of the CEO of JPMorgan Chase in 2006, the bank’s share price has climbed more than 500%. On Monday, the action closed at $ 264.88, out of 5% compared to its higher 52 weeks of $ 280.25 that the bank reached in February.
“JPM under the current CEO was a bank of the best class marked by consistency, growth, efficiency, resilience and enterprising culture,” wrote Mike Mayo, manager of major banking research in Wells Fargo, in a research note on May 11.
The race to replace Dimon changed earlier this year when two contenders withdrew. In January, Jennifer Piepszak became chief of the farm and told the bank that she would not seek the position of CEO. Daniel Pinto, who was president and chief of the exploitation and was considered the right hand of Dimon, announced this month that he would resign in June.
Dimon distinguished Pinto on Monday at the end of investor day, saying “what a great partner he was all these years.” The “World Class Investment Bank of JPMorgan Chase and world -class risk management systems” was due to Pinto efforts, Dimon said.
The JPMorgan Chase Investor Day was an audition for the three current candidates to replace Dimon. The main contenders for Dimon’s position are Lake MarianneCEO of Banking Consumer and Community Banking (CCB), and Troy ROHRBAUGHCO-PDG of the Commercial and Investment Bank (CIB), wrote Mayo.
Lake spent 25 years in Jpmorgan Chase and was previously CEO of Consumer Lending from 2019 to 2021. Lake is close to many managers of Jpmorgan Chase, including Piepszak with whom she directed Chase Bank, Bank, Bank, Bank, Bank, Bank, Bank, Bank, Wall Street Journal said.
Rohrbaugh, a 20-year-old veteran of JPMorgan Chase, was previously co-chief of the values and the securities services and directs the macro-walks, which includes prices, foreign exchanges, emerging markets and goods of goods. Rohrbaugh is earth-up and very accessible, colleagues in Fortune said last year.
Also in the running is Douglas PetnoCO-PDG of the commercial and investment bank. Petno has been working for JPMorgan Chase for 35 years and has recently been co-chief of the World Bank.
“Management of a large bank is a difficult task, but whoever ends up taking the reins will probably start with a relatively higher hand than some (however, with large shoes to fill),” wrote Mayo.
This story was initially presented on Fortune.com
