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Don’t expect JPMorgan Chase (JPM) CEO Jamie Dimon to step down anytime soon. That’s still “several years away,” he said on Monday.
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“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,” he said in a Fox News (FOXA) interview. Dimon kept the door open to staying on as executive chairman of the board after stepping aside from the top job.
“It’s up to God and the board,” he added.
Last year, Dimon said he would retire from the CEO job within five years. He has helmed the nation’s largest bank for nearly two decades and is among the longest-running chief executives on Wall Street. JPMorgan’s stock has soared 500% since Dimon became CEO in 2006, the Wall Street Journal reported.
JPMorgan Chase reshuffled its executive leadership team at the start of 2024, handing some key executives “new and increased responsibilities” and installing new leadership in other critical divisions — many of whom have stood out as potential replacements for Dimon.
In the Fox News interview, the JPMorgan Chase CEO warned of more turmoil in bond markets if investors wary of the nation’s growing debt shun the American dollar.
“If people decide that the U.S. dollar isn’t the place to be, you could see credit spreads gap out; that would be quite a problem,” Dimon said. “It hurts the people raising money. That includes small businesses, that includes loans to small businesses, includes high yield debt, includes leveraged lending, includes real estate loans. That’s why you should worry about volatility in the bond market.”
—Rocio Fabbro contributed to this article.
