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May 29, 2014

J.P. Morgan’s Dimon Aims to Stay Put

J.P. Morgan Chase & Co. Chief Executive Officer James Dimon has told investors he wants to stay with the largest U.S. bank for as many as five more years, according to people familiar with the conversation.

“‘I’m going nowhere,’ Mr. Dimon said during an April 23 lunch at a hotel overlooking Boston Harbor, according to people who attended.

“Mr. Dimon also emphasized the banks’ board has the ultimate say, one of these people added.

“The new clarity is a contrast to comments made by the 58-year-old Mr. Dimon a year ago as he hinted in a private meeting with investors he might leave the bank if shareholders voted to separate his roles of chief executive and chairman, according to people familiar with that conversation. Mr. Dimon declined to comment through a spokesman.”

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Read full Wall Street Journal article here

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