Last year, on the day of the JPMorgan Chase investor, Damon said that the timeline of his departure was “less than five years”. When the Monday was asked about the number of other years in which the CEO would remain, Damon said: “The intention is the same last year. Nothing has changed at all.”
Damon, who spoke last Monday, promoted what the bank’s powerful driving pipeline considers. He said Jpmorgan ChaseDamon said that 44 trillion dollars of assets, starting from March 31, built a “very deep seat” and expressed confidence that the bank will flourish regardless of who works as his leader.
JPMorgan Chase CEO said it is wise to think about success, but whether he is still his choice. Damon, 69, is a relatively young man of CEO of financial services. Stephen Schwarzmann, Chairman and CEO of the company BlackstoneIt is 78 while Larry Fink Black Rock is 72.
“It is clear that it is up to the council. If you are here for four years, two or three years, this is a long time. It is like a lot of the current value of the world, well?” Damon said.
Damon’s retirement, which will be replaced, is a hot theme for Wall Street. Earlier this year, during a bank hall, Damon told the employees that he intends to remain the CEO for a “other years”, then move to the position of president, luck I mentioned In March.
“The investors (they) are not fully prepared for CEO Jimmy Damon to pass the stick,” Ibrahim Bonawalla wrote, a Bank of America Research analyst in the May 15 Research Memorandum.
3 potential caliphs
Damon is one of the most successful executives in Wall Street. Since he assumed the position of CEO of Jpmorgan Chase in 2006, the bank’s share price increased by more than 500 %. On Monday, the stock was closed at $ 264.88, with 5 % of its highest level in 52 weeks at $ 280.25 the bank reached in February.
“JPM under the current CEO was a better bank in his class characterized by consistency, growth, efficiency, flexibility and adventure culture,” Mike Mayo, head of major bank research in major research in major research in major research in major banking research. Wales VargoIn the May 11 Search Memorandum.
The race changed to replace Damon earlier this year when two competitors chose. In January, Jennifer Pepsak became head of operations He said The bank will not seek the position of CEO. Daniel Pinto, who was president and director of operations and considered the right hand of Damon, Declare That month was stepped in June.
On Monday, Diento dedicated Pinto at the end of the investor day, saying, “What a great partner who was throughout these years.” “The World Investment Bank and World Risk Management Systems from JPMorgan Chase were due to PINTO’s efforts,” Damon said.
The JPMorgan Chase investor day was a test for the current three candidates to replace the Dimon. The main competitors for the position of Damon Lake MarianneCEO of consumers and bankers (CCB), and Toy RozoMayo, participating in the Commercial and Investment Bank (CIB).
The lake spent 25 years at JPMorgan Chase, and was formerly CEO for consumer lending from 2019 to 2021. The lake is close to many CEOs at JPMorgan Chase, including Piepszak with which he managed to the Bank of Chis, Wall Street Journal He said.
Rohrbau, an old veterans at JPMorgan Chase, was previously a participant head of market services, securities and leading macro markets, which include rates, foreign exchange, emerging markets and commodity companies. Rohrbau is very connected and his colleagues. Wealth last year.
Also in running Douglas PetinoCo-CEO from the Commercial and Investment Bank. Petno worked at JPMorgan Chase for 35 years, and she recently worked as a co -head of global banking services.
Mayo wrote: “The management of a large bank successfully tasked, but it is possible that everyone who takes control begins with a relatively stronger hand than some (with large shoes to fill).”
This story was originally shown on Fortune.com
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