00:00 Speaker A

Well, JP Morgan Chase CEO Jamie Dimon’s time as top boss is winding down, and at the bank’s annual investor day next week, those in attendance will be awaiting clarity on a succession plan. For more on what to expect, let’s welcome in here Yahoo Finance’s very own David Hollerith. David, what do we expect?

00:17 David Hollerith

Hey, Josh. Uh, so we expect a ton of stuff from the bank. Um, the last of which we’ll hear because Jamie Dimon as CEO and executive chairman always speaks last would be some update on his timeline, what it is. So a year ago he said he has less than five years left.

00:37 Speaker A

Right. I mean, so last year, I remember that less than five is is the bogey he put out there. Yep.

00:42 David Hollerith

Yeah. And he offered more clarity in January. He said the base case is still that. Yep.

00:48 Speaker A

Yep.

00:49 David Hollerith

So, things have still changed. Um, we’ve had one person sort of come out, one contender come out of the race, uh, Jennifer Piepzak. Okay. Who, uh, she’s actually taken the role of chief operating officer. So, things have changed a little bit. And and since then, I’ve spoken with a lot of investors, and they’re very clearly wanting Jamie Dimon more compared to last year, and they did want him last year to stay. So he has to address this to some extent. I’m almost positive he will be asked it, but whether or not they give a different answer from last year, we don’t know.

01:13 Speaker A

Is that?

01:29 Speaker A

We don’t know. How would you generally characterize, David, the the relationship between President Trump and Mr. Dimon? Because Trump has said some nice things. I I think you would characterize it as nuanced and complicated.

01:57 David Hollerith

Recently.

02:01 Speaker A

Yeah. How so? Walk me through it. Why?

02:07 David Hollerith

Um, you know, I think, um, uh, uh, Diamond has advised, uh, he advised both presidential candidates leading up to the election. Right. Um, unofficially, phone calls, that that sort of thing. And in the past, we know too that, um, Diamond and the president have actually gotten into spats, like during the, uh, previous administration. So it’s it’s a little bit of a toss-up of where it stands, but the most recent thing has been that, um, Diamond did an interview on Fox Fox News, um, and Fox Business now, excuse me. And, um, uh, the president saw that, and what seemed to be, uh, sort of taken as an endorsement and pretty complimentary. So it seems like generally publicly, um, the vibes between them both are pretty good. So I I don’t know where to leave it.

03:17 Speaker A

You know, I think nuanced. Let’s leave it there. That seems fair. Thank you, sir. Appreciate it.


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