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Jamie Dimon Sees Himself Atop JPMorgan for Five More Years, But Not 10

Jamie Dimon Sees Himself Atop JPMorgan for Five More Years, But Not 10

Wednesday, 04 August 2021 07:42 AM

Jamie Dimon said he’s unlikely to be running JPMorgan Chase & Co. in 10 years, but he does see himself staying for another five years.

“I’m not going to go play golf and smell flowers,” Dimon said in an interview with Fox Business that aired Wednesday.

JPMorgan’s board last month awarded the bank’s billionaire chief executive officer a special gift to stay on for another “significant number of years.” Dimon, 65, has long joked that his retirement is five years away, no matter when he’s asked.

In the wide-ranging interview, the CEO also reiterated his prediction that the U.S. economy is poised to boom, something he wrote about extensively in his annual shareholder letter in April.

“Everyone’s ready to go, confidence is up, people have lots of capital,” Dimon said. “Loans will start going up eventually when growth gets stronger.”

Read more: JPMorgan’s Dimon Says ‘This Boom Could Easily Run Into 2023’

Loan growth has remained elusive despite the U.S. economic recovery. Still, what’s typically a bad sign for banks is actually a positive this time, because it points to the health of the economy, Dimon said.

“Usually when consumers and businesses deleverage it’s because they’re overleveraged, and deleveraging could take a couple years,” Dimon said. “This is the opposite. They’re paying off loans, they have a lot of money. Incomes, investments, home prices are up, stock prices are up.”

© Copyright 2021 Bloomberg News. All rights reserved.


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Jamie Dimon said he's unlikely to be running JPMorgan Chase & Co. in 10 years, but he does see himself staying for another five years."I'm not going to go play golf and smell flowers," Dimon said in an interview with Fox Business that aired Wednesday.JPMorgan's board last...
FIN, INDUSTRIES, NORTHAM, REL, TOP, US, WORLD, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU
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2021-42-04
Wednesday, 04 August 2021 07:42 AM
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