Jamie Dimon on Wednesday agreed with analysts' assessment that the "base case" for his resignation as CEO of JPMorgan Chase (JPM) is several years away.
The new comments on succession came a day after the largest U.S. bank announced a management shakeup that raises new questions in the race for Dimon, 68, the longest-serving CEO of a major bank.
The bank named Jennifer Piepszak as chief operating officer, replacing Dimon's deputy Daniel Pinto, but said Piepszak did not want to succeed Dimon as CEO. Pipzak was previously considered one of the frontrunners to eventually land Dimon's job.
Dimon said last year that his timetable for stepping down as CEO was "no longer five years."
The restructuring "doesn't change the timeline at all," he told reporters on Wednesday after revealing another record profit year. Wells Fargo's Mike Mayo pressed him to provide more details on a separate call with analysts.
"If investors want you to do this, why don't you stay a little longer?" Mayo asked.
"We're on a path," Dimon said. "It's not just about me, it's about other senior people in the company. It's about the board. If I were here for a few more years, I may or may not be Being chairman, that's going to be up to the board, but is that really appropriate for a new CEO or something like that?"
"Now you're talking about maybe four years, five years or more. I'll be 69 in March. I think that's the rational thing to do."
When Mayo asked who his successor would be, Dimon said: "We have a couple of great people."
The current view within the bank is that three other executives - Marianne Lake, Doug Petno and Troy Rohrbaugh - are serving as CEO the best candidate.
"You know most of them. Maybe there are one or two you don't," Dimon said. But "nothing has been determined yet."
"Of course, at the last minute, years later, people get sick, they change their minds, they have family situations. So even if you think you know it today, you're not completely sure."
Mayo asked: "So you're probably going to stay a few more years, what's the base case now?"
Dimon agreed with that assessment: "Yes. Base case, yes."
As of 12:39:07 PM ET. The market is open.
The JPMorgan CEO did have some praise for Pinto, who temporarily replaced Dimon in 2020 when he faced heart surgery.
"He started in a junior position in Argentina, took over trading in Latin America and ended up running CIB over the past 10 years and building, helping to build, one of the best commercial investment banks in the world, and he was my partner in that role. President and COO for over five years," Dimon told reporters and analysts.