Last year at JPMorgan Chase’s investor day Dimon said that the timetable for his departure was “less than five years.” When asked Monday how many more years he would remain as CEO, Dimon said: “The intent is the same as last year. Nothing has changed at all.”
“Obviously it’s up to the board. If I’m here for four more years or two or three, that’s a long time. It’s like a lot of the present value of the world, okay?” Dimon said.
Dimon is one of the most successful Wall Street CEOs. Since taking over as JPMorgan Chase’s CEO in 2006, the bank’s share price has soared more than 500%. On Monday, the stock closed at $264.88, off 5% from their 52-week high of $280.25 that the bank reached in February.
Dimon on Monday singled out Pinto at the end of the investor day, saying “what a great partner he’s been all these years.” JPMorgan Chase’s “world class investment bank and world class risk management systems” were because of Pinto’s efforts, Dimon said.
“Successfully running a large bank is a difficult task, but whoever eventually takes the reins will likely start with a relatively stronger hand than some (though, with big shoes to fill),” Mayo wrote.
