Jamie Dimon Doesn't Plan To Join Trump Administration, Affirms Commitment to JPMorgan

On Tuesday, Donald Trump was elected as the 47th president of the United States, marking a remarkable return to office.

JPMorgan Chase JPM CEO Jamie Dimon has no intentions of leaving the bank for a position in Donald Trump’s administration, putting rumors of his potential involvement in government to rest.

Speculation surrounding Dimon’s candidacy for Treasury Secretary was circulating from both Republicans and Democrats. However, Dimon recently addressed the possibility, stating his likelihood of taking a government role was “almost nil.”

Despite this stance, Dimon remains a central figure in discussions about potential successors. JP Morgan’s board has identified four possible candidates for when Dimon eventually steps down.

Dimon, who has led the largest bank in the U.S. for nearly two decades, remains committed to the bank.

Although Dimon himself refrained from public endorsement, a recent report from the New York Times indicated he may privately favor Harris, identifying himself as “barely a Democrat.”

The New York Times report added that privately, Mr. Dimon expressed support for Vice President Kamala Harris and would consider a position in her administration, possibly as Treasury secretary.

He has also shared with associates that former President Trump’s refusal to accept the 2020 election results is nearly a dealbreaker for him.

Dimon’s political influence and frequent commentary on policy issues have repeatedly sparked calls for his own presidential bid, JP Morgan told Fortune.

However, Dimon has consistently dismissed such aspirations, with JPMorgan reiterating last year that he has “no plans to run for office” and is content in his current position.

Although the veteran banker continued his tradition of not endorsing any presidential candidate this year, he often shared his views on economic policies, financial issues, and national challenges, Reuters noted.

Meanwhile, media reports noted that his wife, Judy Dimon, traveled to Michigan to campaign for Kamala Harris.

Price Action: JPM stock is up 10.8% at $245.36 at the last check on Wednesday.

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