JPMorgan CEO Jamie Dimon signals retirement is closer than ever

Jamie
Dimon‘s
days
as
CEO
of


JPMorgan
Chase
are
numbered
—
though
it
is
unclear
by
how
much.

In
a
response
to
a
question
Monday
about
the
bank’s
succession
planning,
Dimon
indicated
that
his
expected
tenure
is
less
than
five
more
years.
That
is
a
key
change
from
Dimon’s
previous
responses
to
succession
questions,
in
which
his

standard
answer
had
been
that
retirement
was
perpetually
five
years
away.

“The
timetable
isn’t
five
years
anymore,”
Dimon
said
at
the
New
York-based
bank’s
annual
investor
meeting.

The
ambiguity
of
Dimon’s
plans
has
made
succession
timing
at
JPMorgan
one
of
the
persistent
questions
for
the
bank’s
investors
and
analysts.
Over
nearly
two
decades,
Dimon,
68,
has
made
his
lender
the
largest
in
America
by
assets,
market
capitalization
and
several
other
measures.

Still,
Dimon
added
Monday
that
he
still
has
“the
energy
that
I’ve
always
had”
in
managing
the
sprawling
company.

The
decision
of
when
he
moves
on
will
ultimately
be
up
to
JPMorgan’s
board,
Dimon
said,
and
he
exhorted
investors
and
analysts
to
examine
the
executives
who
could
take
his
place.

Atop
the
short
list
of
candidates
is

Marianne
Lake,
CEO
of
JPMorgan’s
consumer
bank,
and

Jennifer
Piepszak,
who
co-leads
its
commercial
and
investment
bank.
The
executives
were
given
their

latest
assignments
in
January.

“We’re
on
the
way,
we’re
moving
people
around,”
Dimon
said.

Even
when
he
steps
down
as
CEO,
however,
it
is
likely
he
will
stay
on
as
the
bank’s
chairman,
JPMorgan
has
said.