Jamie Dimon just hinted he may be retiring sooner than expected
- 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.
Jamie Dimon, Wall Street's longest-tenured CEO, may be retiring sooner than we'd thought.
At an investor-day Q&A on Monday, the JPMorgan CEO broke from his usual joke that he'd 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 was "not five years anymore."
The bank boss added that the plan to name his successor was "well on its way" and floated staying on as chair after he stepped 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 longtime key 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's chief operating officer, Daniel Pinto, has long been the emergency backup CEO in case Dimon needs 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 say more about the succession plan.
The CEO's comments echoed last year's investor-day event, where Dimon said he could be "intense" with his managing style, adding: "I think when I don't have that intensity, I should leave."
JPMorgan Chase didn't immediately respond to a request for comment about Dimon's comments on Monday.