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Dimon Of JPMorgan Chase (JPM) May Be The Next Treasury Secretary
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Management
Posted on 11/23/09 at 9:57am by Ed Liston
The New York Post says that Jamie Dimon, CEO of JPMorgan Chase (NYSE: JPM) may succeed Timothy Geithner as the next Treasury Secretary.
Dimon’s skills in pulling up JPMorgan Chase through the recession are a great positive for him. Dimon’s help in rescuing Bear Stearns and Washington Mutual, Inc.(OTC: WAMUQ) was also appreciated by the administration.
Although it is not out of troubles just yet, JPMorgan is currently reckoned to be one of the strongest banks in the US. Dimon's reluctance to write fat bonuses to JPMorgan’s staff or to attract newer talent also seems to vouch well for him. Even the timing seems to be right. Recently, Dimon has initiated a succession plan. On his part, Dimon has not exhibited any outward interest for that coveted job.
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