JPMorgan CEO Jamie Dimon signals retirement is closer than ever

Jamie Dimon’s days as CEO of JPMorgan Chase are numbered — though it is unclear by how much.

In a response to a question Monday about the bank’s succession planning, Dimon indicated that his expected tenure is less than five more years. That is a key change from Dimon’s previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away.

“The timetable isn’t five years anymore,” Dimon said at the New York-based bank’s annual investor meeting.

The ambiguity of Dimon’s plans has made succession timing at JPMorgan one of the persistent questions for the bank’s investors and analysts. Over nearly two decades, Dimon, 68, has made his lender the largest in America by assets, market capitalization and several other measures.

Still, Dimon added Monday that he still has “the energy that I’ve always had” in managing the sprawling company.

Source: CNBC