JPMorgan CEO Jamie Dimon says succession plan at Wall Street’s largest bank is ‘well on the way’
- Dimon, 68, who has been CEO since 2006, earlier this year moved some of his top lieutenants into new senior roles to prep potential successors to take over
- The bank raised its forecast for this year’s net interest income to US$91 billion after last month predicting a US$90 billion haul, on less than expected rate cuts by the Fed
The question of who might steward the firm after Dimon – who has held the top job since 2006 – has loomed over the industry. Earlier this year – about halfway through Dimon’s five-year retention package – the 68-year-old CEO moved some of his top lieutenants into new senior roles, positioning them for more experience running the firm’s operations as he prepares potential successors.
The shuffle placed Jenn Piepszak and Troy Rohrbaugh atop an expanded commercial and investment bank while Marianne Lake, who had co-led the consumer and community bank alongside Piepszak since 2021, got sole control of the segment, overseeing more of its business lines.
“It’s up to the board – it’s not up to me,” Dimon said. “I have the energy that I’ve always had. That’s important. I think when I can’t put the jersey on and give it my fullest, I should leave, basically.”
Reviewing the day’s presentations from the leaders of JPMorgan’s various business lines, Dimon tempered expectations from some analysts that the bank’s excess capital might support increased share buy-backs.
