JPMorgan CEO Jamie Dimon Just Made a Big Announcement About His Retirement Timeline: 'I Love What I Do' Dimon used to joke that his retirement was five years away, but now he's getting serious about the matter.
By Sherin Shibu Edited by Melissa Malamut
Key Takeaways
- JPMorgan Chase CEO Jamie Dimon has been head of the bank since 2006.
- Now he says that his retirement is “several years away.”
- Dimon led the bank to a record-high $58.5 billion net income in 2024.
JPMorgan Chase CEO Jamie Dimon, 69, has been running the biggest bank in the U.S. for nearly two decades. Now, in a taped interview that aired Monday on Fox Business Network's Mornings with Maria, Dimon says his retirement from JPMorgan is still "several years away," and that the bank's directors have the final say on exactly when it will occur.
"It's up to God and the board," Dimon said. "There will be an appropriate time, and then I may stick around for a couple of years as chairman or executive chairman. I love what I do."
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Dimon became CEO of JPMorgan in 2006, after serving as the bank's chief operating officer. For years, he used to joke that retirement was five years away, no matter when he was asked.
However, Dimon changed his tune at the company's annual 2024 Investor Day, stating at the event that the "timetable" for his retirement was "less than five years" away and that the company was "on the way" to finding his successor.
At JPMorgan's 2025 Investor Day in May, Dimon affirmed his plans to retire as CEO within the next couple of years, though he has yet to pick a successor publicly.
"The board has intent… to be thinking about succession, and we should be doing that," Dimon said at the event, per Barron's.
Jamie Dimon. Photographer: Qilai Shen/Bloomberg via Getty Images
At Investor Day this year, attendees were examining key executives in the running to take over as CEO when Dimon retires. According to The Wall Street Journal, JPMorgan's CEO of consumer and community banking, Marianne Lake, 56, is a top contender for the CEO spot. Lake runs Chase Bank and its credit card business.
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Other CEO contenders include the co-heads of JPMorgan's corporate and investment bank, Doug Petno, 59, and Troy Rohrbaugh, 55.
Under Dimon's leadership, JPMorgan's net income has doubled from $29.13 billion in 2020 to a record-high $58.5 billion in 2024. Dimon received an 8.3% raise last year, lifting his pay from $36 million in 2023 to $39 million in 2024.
JPMorgan shares have grown by over 130% in the past five years.
For aspiring CEOs, Dimon advised anyone who wants to be in his shoes one day to "learn" and "read everything," he told Fox Business. He recommends getting "out on the road," exploring the world, and treating people with respect, from the lowest-ranking employee to the highest.
