JPMorgan CEO Jamie Dimon has long joked that whenever askedbingopagcorHe, he still has five years to retire. But he gave a different answer on Monday.
In response to questions about how long he planned to serve as CEO, Dimon told shareholders that the timetable was "no longer five years." He told the company's Investor Day that the successor plan for the largest U.S. bank was "progressing well."
The question of who will run the company after Dimon hangs over the industry. Dimon moved some of his top aides to new senior positions earlier this year to give them more corporate management experience as he prepares potential successors.
The transfer leaves Jenn Piepszak and Troy Rohrbaugh as co-CEOs of the expanded commercial and investment banking business, while Marianne Lake, who has co-led consumer and community banking with Piepszak since 2021, will take the lead in the division and be responsible for managing more business.
"It's up to the board, not me," Dimon said Monday. "I have the same energy as ever. This is important. I think when I can't be ready and go all out, basically I should leave."