Jamie Dimon just hinted he may be retiring sooner than expected
JPMorgan CEO Jamie Dimon suggested he may be planning to retire within the next five years.
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- JPMorgan CEO Jamie Dimon is talking about retirement.
- At an investor day Q&A, Dimon joked he was planning to step down within five years.
- Dimon said the plan to find a successor is "well on the way."
Jamie Dimon, Wall Street's longest-tenured CEO, may be retiring sooner than we thought.
At an investor day Q&A on Monday, the JPMorgan CEO broke from his usual joke that he'll retire in five years.
When asked about his succession plan, Dimon seemed to acknowledge that he's thinking of stepping down when he joked that the timetable is "not five years anymore."
The bank boss also said the plan to name his successor is "well on its way" and floated staying on as chairman after he steps down.
"We're moving people around," Dimon, 68, said during the Q&A.
Wall Street has speculated for years about who will take over for Dimon when he eventually leaves JPMorgan.
Jennifer Piepszak and Marianne Lake, two key longtime executives, have been rumored to be next in line at the investment bank. But Troy Rohrbaugh, who was named co-CEO of JPMorgan's commercial and investment bank with Piepszak, has recently emerged as a dark horse candidate to take the CEO job.
JPMorgan COO Daniel Pinto has long been the emergency backup CEO in case Dimon needed to leave on short notice.
Dimon said his succession — and even when he leaves the job — is up to JPMorgan's board.
"I have the energy I have always had," he said at the investor day event.
Dimon didn't share more about the succession plan.
The CEO's comments echo last year's investor day event, where Dimon said he can be "intense" with his managing style and noted: "I think when I don't have that intensity, I should leave."
JPMorgan Chase didn't immediately respond to a request for comment from Business Insider about Dimon's comments on Monday.