JPMorgan President Jamie Dimon said Sunday that he will “likely” become chairman of the Wall Street giant when he ultimately steps down as CEO.
“That's likely to happen. Again, that's up to the board, not up to me. But I might chair for a few years if it makes sense,” the 68-year-old said. Dimon said in an interview with Leslie Stahl on “CBS News Sunday Morning.”
When pressed by Stahl about his retirement plans, the Queens native, who has led the bank since 2006, downplayed talk of possible political ambitions and insisted he plans to write a book or teach.
Mr. Dimon also appears to support President Trump's threat to use tariffs to pressure countries to resolve their conflicts with the United States.
“Tariffs are tools that, if used properly, can help solve some of the problems such as unfair competition and national security issues. Like any tool, they can be damaging if misused. ,” Dimon told Stahl.
He added that he was “cautiously pessimistic” about the future of the U.S. economy despite falling inflation and improving payrolls.
His comments came ahead of JPMorgan's full-year results on Wednesday, as transaction fees and lucrative investment banking fees continue to recover.
Dimon's future has been the subject of intense speculation. During the campaign, reports surfaced that Mr. Dimon was eyeing a job in a potential Kamala Harris administration before being removed from the race himself.
Donald Trump floated his name as a potential Treasury secretary candidate in an interview with Bloomberg in June, but denied his remarks just weeks later.
In November, the Post exclusively reported that the president-elect and Mr. Dimon established a secret “back channel” in which President Trump used the banking industry veteran as a “sounding board” on economic policy.
Mr. Dimon regularly called Mr. Trump's inner circle to discuss everything from banking regulation to taxes, but in October he formally ruled out joining the administration, the Post reported.
Competition to replace Wall Street giants has long been a topic of debate among New York's financial elite. Mr. Dimon has not given a timeline for when he will step down.
Dimon's eventual successors are reportedly being considered: Mary Erdoes, JPMorgan's head of asset management, and Jennifer Piepszak, co-CEO of JPMorgan's investment banking division. , and the name of her counterpart Troy Rohrbaugh.
In July, the newspaper revealed how Mr Herdeyes, 57, represented the bank at a lavish VIP lunch with French President Emmanuel Macron at his official residence on the Elysée Avenue this summer.
Mr. Dimon, whose 2023 salary was cut by $34.5 million, has made an enemy of the Biden administration in recent months, slamming what he sees as unwarranted rules that are hampering JPMorgan's business.
“It's time to fight back,” Mr. Dimon told stunned bankers at a conference in New York in October. “I went through that with this.”
He cited a blueprint aimed at helping banks absorb large economic shocks by forcing them to hold more capital on their balance sheets to weather financial storms.
The proposal, known as Basel III, would see large financial institutions raise their emergency buffers by 9%.
“We are suing regulators over and over again because things have become unfair and unjust and are hurting businesses,” he said at the time. “Many of these regulations hurt low-wage individuals. “We are giving the same amount of money,” he said.
