JPMorgan Chase CEO Jamie Dimon Says Retirement ‘Several Years Away’

JPMorgan Chase CEO Jamie Dimon said his retirement is “several years away.”

Asked about his plans by Marie Bartiromo during an appearance on Fox Business’ Mornings With Maria that aired Monday (June 2), Dimon also said he may remain at the bank for a couple of years as chairman, executive chairman or a similar role.

“Obviously, it’s always up to God and the board,” Dimon said. “We’ve got some great people. There will be an appropriate time.”

He later added: “I love what I do, I love my country, and I don’t know what I’d do if I wasn’t fighting for something every day.”

Dimon is 69 years old and has been JPMorgan Chase’s CEO for nearly 20 years, the Wall Street Journal (WSJ) reported Monday.

He said last year that he would retire in five years — a statement that surprised investors, according to the report.

The statement also set off speculation about who might succeed him and made the bank’s investor day in May “an audition of sorts” for the CEO role, the report said.

The JPMorgan Chase board of directors said in an April 2024 proxy statement that planning for an orderly CEO transition “in the medium-term” was one of its top priorities.

“As part of successful planning, the board continues to oversee management’s development of several operating committee members who are well-known to shareholders as strong potential candidates to succeed Mr. Dimon,” the proxy statement said.

In January 2024, JPMorgan Chase said in a press release that it made several changes to its leadership and organizational structure while working to “position the firm for the future.”

“The senior management changes and new alignments announced today will help the company serve clients even better as well as further develop the company’s most senior leaders,” the release said.

During the appearance on Fox Business that aired Monday, Dimon also said he is not complacent, because JPMorgan Chase faces competition from other major investment banks and commercial banks as well as FinTech companies like Stripe, PayPal and Revolut.

“I always look at the ones who are doing better than us, and why,” Dimon said. “I don’t just focus on how well we’re doing.”