JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said running for public office has crossed his mind amid speculation on his long-term future beyond helming the financial services giant.
(Bloomberg) — JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said running for public office has crossed his mind amid speculation on his long-term future beyond helming the financial services giant.
“I love my country, and maybe one day I’ll serve my country in one capacity or another,” he said in a Bloomberg Television interview, when asked if he’s ever considered a public office position. His comments, made at the bank’s annual Global China Summit in Shanghai on Wednesday, come as the US gears up for its 2024 presidential race.
The financier is among a group of long-tenured Wall Street chiefs that also includes Brian Moynihan, 63, who’s led Bank of America Corp. since 2010, and Morgan Stanley’s James Gorman, 64, who became CEO at the start of 2010 and is stepping down within 12 months. Dimon, 67, who has been head of JPMorgan since 2005, has repeatedly said that he plans to remain atop the biggest US bank for five more years. In the past, Dimon has been quick to publicly shut down speculation that he planned a presidential run.
For now, he’s focused on his job running the largest US bank, a role he’s “quite happy” in. “But, I love what I do,” he said. JPMorgan does “a great job for helping Americans, for helping countries around the world.”
Dimon on Wednesday reiterated his view that “business can be a force for good,” and said he’s an American patriot who would follow the US government.
“Everyone knows I am a patriot,” he said. “I am a red-blooded, full-throated, free enterprise capitalist.”
Dimon said in 2018 he could beat Donald Trump in an election, saying he was “as tough” and “smarter.” Later that same day, he put out a statement saying he shouldn’t have picked the fight and wasn’t running for president.
Deal Coming?
His outspoken views on US public policy have spurred talk that he could enter politics. Speaking Wednesday, he remained optimistic that a US debt deal will be reached.
“I think it’s going to happen,” he said. “If I thought it wasn’t going to happen, I probably wouldn’t be here right now.”
Dimon also said investors should be prepared for potential volatility that may arise from tighter monetary policy in the months ahead.
“I think the effects may be a little harsher than people expect,” he said.
–With assistance from Lisa Du.
(Adds more comments from Dimon in fifth paragraph)
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