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New York Post
JPMorgan’s Jamie Dimon says bank has many ‘extremely’ qualified execs for next CEO
By Reuters,
2 days ago
JPMorgan Chase is focused on succession planning and has a cadre of “extremely” qualified people who are prepared to run the bank eventually, CEO Jamie Dimon said Tuesday.
Dimon and his team spend a lot of time thinking about what happens after he retires, Dimon said, without giving a timeframe.
“We all want to get that exactly right,” he told pension funds and institutional investors at a conference in New York.
Dimon has been at the helm of the largest US lender since 2006. He is among a group of financial CEOs whose names have been floated for senior economic roles in government, including Treasury secretary .
Dimon previously signaled his timeline for stepping down is no longer five years and could be as soon as two-and-a-half years .
President Daniel Pinto “could run the bank tomorrow,” Dimon said.
JPMorgan has identified Jennifer Piepszak and Troy Rohrbaugh who jointly lead commercial and investment banking, Marianne Lake, who runs the consumer business, and Mary Erdoes, the head of asset and wealth management, as potential successors.
Dimon also touched on hot-button issues for investors.
Annual shareholder meetings are a waste of time, especially for companies that spend time addressing investor concerns and questions in regulatory filings, he said.
Dimon also weighed in on how corporate boards are structured. Chair titles should be scrapped, because lead directors have comparable importance and play a similar role in terms of convening board meetings and setting agendas, he said.
Some investors have argued that combined chair and CEO roles, which Dimon holds, could give some executives too much power.
JPMorgan shares closed down 5.2% on tempered expectations about income from interest payments. The stock is up 21% this year.
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this guy is one of America's Biggest Criminals in a Industry being a ponzi grift, criminal acts repeatedly year after year, why? when the crimes profits are huge, Wall St gets a little fine, and repeats it over and over BoA is in trouble financially backing hedge funds NSS Crimes Citi Wells Fargo have all made no- collateral loans in billions Citadel -65 billionbut accounting and contempt of laws Ken shows profit but reality is he's made big money sold stocks he doesn't own, soon they will need to buy stocks, file bankruptcy , or when NYSE IS ONE MARKET INSTEAD OF A DARK MARKET AND A LIT MARKET IT A CRIMINAL RUN CRIME OF ENTITLEMENT
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