Jamie Dimon plans books and teaching after JPMorgan exit
The JPMorgan Chase CEO told Axios he expects an active next chapter, with writing, teaching and other work under consideration.
By Daniel Okafor · Business Editor
3 min read
JPMorgan Chase CEO Jamie Dimon is sketching out a busy life after he leaves the top job at the bank. In interviews cited by Fortune, Dimon said he is considering books, teaching and business work after a CEO tenure that has lasted more than two decades.
Dimon told Axios he expects to keep working with people he likes once he steps away from running JPMorgan. He said he would probably write a book, possibly focused on management, and may also write about the financial crisis because, in his view, many people still do not understand what happened.
Dimon also raised the possibility of teaching and mentioned a potential media-related project, according to Fortune. JPMorgan Chase declined Fortune’s request for comment.
Succession planning is in focus
Dimon, 70, has led JPMorgan through the 2008 financial crisis, major acquisitions and periods of record profit, Fortune reported. The company is the world’s largest bank by market value, according to the report, which described JPMorgan as valued at about $890 billion.
His departure timing has become a central question on Wall Street. Dimon told CBS last year that when he was previously asked about the timeline, he had answered “less than five years,” while making clear that he did not expect to stop working in the traditional sense.
In that CBS interview, Dimon said he might write, teach or work with his children if they wanted to, while adding that he would not pressure them. He also said it was likely he could remain chairman for a couple of years after stepping down as CEO, if that arrangement made sense, though he said JPMorgan’s board would decide.
Fortune reported that several possible successors have been discussed as Dimon’s timeline becomes clearer. Marianne Lake, CEO of JPMorgan’s consumer and community banking unit, left the field of likely contenders when she announced last month that she would leave the bank, according to Fortune. Jennifer Piepszak, JPMorgan’s chief operating officer, has said she does not want the CEO role, Fortune reported.
The names most often highlighted in succession discussions are co-presidents Doug Petno and Troy Rohrbaugh, according to Fortune.
Former CEOs often keep working
Dimon has also said he does not expect an idle retirement. On the Acquired podcast last year, he said he had to do something and did not plan to spend his time with no work to occupy him.
Fortune noted that several prominent former CEOs have taken active roles after leaving their posts. Jeff Immelt, who ran General Electric for 16 years, became a lecturer at Stanford’s Graduate School of Business, according to the report.
Steve Ballmer, Microsoft’s CEO from 2000 to 2014, bought the Los Angeles Clippers for $2 billion in the year he retired, Fortune reported. The team is now valued at about $7.5 billion, according to the report. Ballmer also co-founded USAFacts and taught business courses at Stanford and the University of Southern California.
Indra Nooyi, who left PepsiCo’s top job in 2019 after 13 years as CEO, later served on Amazon’s board and on the supervisory board of Royal Philips, Fortune reported. She also sits on the boards of the National Gallery of Art and Memorial Sloan Kettering Cancer Center, and released a book, My Life in Full, in 2020.
Howard Schultz, who led Starbucks across three separate stints totaling about 25 years, remains active in philanthropy, writing and venture capital, Fortune reported. He founded the Schultz Family Foundation, co-founded the venture firm Maveron and has written four business books.
This story draws on original reporting from Fortune.