President-elect Donald Trump reportedly is no longer considering JPMorgan Chase CEO Jamie Dimon as treasury chief.
Trump "doesn't respect" Dimon, a source told NBC News, adding that the bank chief "was never under consideration" for the appointment and was not on "any Trump-approved list."
Dimon did not support Trump's presidential campaign. Dimon also has said emphatically multiple times that he was not interested in the role of treasury chief.
Trump's controversial rhetoric and behavior during the campaign concerning immigrants, women, minorities, the disabled, Muslims and China, among other things, were offensive to many senior Wall Street executives who have tried to embrace inclusion, diversity and globalization.
Trump also criticized Wall Street on the trail, saying the industry "got away with murder" and would not be let off the hook.
Since being elected, Trump has softened his tone and tried to bridge gaps by meeting with President Obama and taking calls from foreign officials.
Dimon, a lifelong Democrat, has been floated as a possible candidate for roles like Treasury Secretary in the past. However, resentment toward bankers following the 2007-2009 financial crisis made his candidacy much less likely, as did JPMorgan-specific scandals related to a costly derivatives trade and bad mortgages.
A $13 billion mortgage settlement JPMorgan reached with the federal government in 2013 prompted Trump then to call Dimon "the worst banker in the United States."
However, Dimon has managed to retain a reputation within the banking industry as a distinguished leader, in part by the way he handled those scandals and the way he talks about JPMorgan's role in society as the largest U.S. bank.
"I would love to be president of the United States of America," Dimon told the Economic Club of Washington. "Until Donald Trump got to where he was, they said you'll never see a rich businessman who's never been in politics be president. I clearly was wrong about that."
(Newsmax wire services contributed to this report).
© 2023 Newsmax Finance. All rights reserved.