The Political Future of JPMorgan Chase CEO Jamie Dimon

  JPMorgan Chase CEO Jamie Dimon is known for being outspoken when it comes to US public policy issues, prompting speculation he might enter politics. Yet Dimon insists he enjoys running the bank and plans on being at its head for at least another three-and-a-half years. Bill Ackman has encouraged Dimon to run for president due to their shared philosophy on business and politics. What Will Dimon Do Next? JPMorgan CEO Jamie Dimon has held onto power for 17 years and grown the firm into America's biggest lender, making him a household name and force in business circles. He earned fame during the financial crisis by saving Bear Stearns and Washington Mutual; additionally he has become an iconic face for industry. Regularly visiting Congress to answer questions. Dimon has found himself at the center of much controversy on Capitol Hill, as critics assert JPMorgan is too big and has become even more dominant since the crisis - especially with its purchase of failed regional bank First Republic earlier this month. Others worry about his political ambitions - in 2018, Dimon made public comments suggesting he could challenge President Trump for the White House; later on he did backtrack from those comments. Dimon's public stance on issues such as the debt ceiling fight has contributed to speculation that he might enter politics eventually. Already an outspoken critic of President Donald Trump and has taken public stands on multiple policy issues in the past - not alone among Wall Streeters who have voiced criticisms against its policies - his public statements only add fuel to this speculation. Should he decide to run for office - whether Cabinet membership or presidentship - he'd likely be seen as an attractive contender due to his influence and history with both parties. While originally Republican, he has recently gravitated leftward. He now sits on the Democratic National Committee Board as well as being part of Hillary Clinton's 2016 Campaign Advisory Council; additionally he serves on boards at Partnership for New York City and Harvard Business School and sits on their executive committees respectively. Dimon remains an influential force in banking despite his future plans. He serves as an adviser to Janet Yellen as chair of the Federal Reserve Board and sits on its board of directors; additionally he's trustee for Museum of American Finance as well as member of Council on Foreign Relations. Will Dimon Run for Office? Jamie Dimon of JPMorgan Chase is one of the most influential corporate figures in America. His advice has been sought out by presidents, prime ministers and central bankers across the world. Dimon has often signaled an openness to at least exploring a second act in politics; but this week seemed like it went further. Dimon was asked by Bloomberg TV, in an interview released Wednesday, whether running for public office or cabinet position had ever crossed his mind. To this question he responded "Obviously." Additionally he shared that they have discussed it extensively among their associates and did not rule out taking this route in future discussions. Dimon attended Browning School for all-boys in New York City before attending Tufts University to study economics and psychology before earning his MBA at Harvard Business School. Before joining JPMorgan in 1992 as CEO, he first worked as an analyst with Shearson Lehman Hutton before transitioning into stockbroking roles at that company. At JPMorgan, he became one of the youngest chief executives ever. Since taking on that responsibility he has received multiple honorary knight awards from Queen Elizabeth, in addition to numerous industry honors. Beyond these accomplishments he is also an avid art collector and philanthropist. Dimon has long been linked with political positions in Washington. His name was often mentioned as a possible Treasury Secretary during President Obama's term in office and Warren Buffett even offered his endorsement in 2012. Dimon's comments have spurred widespread speculation of his running for president. While he has not officially decided, he has long voiced opposition to President Donald Trump's trade policies and may make another bid for office in 2020. Bill Ackman has taken to Twitter to support JPMorgan Chase CEO Jamie Dimon as a potential presidential candidate, calling him one of the world's most admired business leaders and noting his centrist political beliefs. Ackman noted that Dimon would make an ideal president because he supports free enterprise while at the same time supporting well-crafted social programs and rational tax policies. Will Dimon Take a Cabinet Position? Jamie Dimon of JPMorgan Chase is an iconic figure on Wall Street and has garnered significant influence due to his outspoken views on US public policy, sparking speculation he might run for office himself. Although Dimon has expressed interest in taking this route, as of yet there are no plans or intentions in place for a political career of any sort. Dimon has built an empire as the leader of one of the world's largest financial institutions and is sought out by presidents, prime ministers and central bankers for advice. He would make for an intimidating political opponent. Dimon remains an intriguing choice as Treasury secretary, though. Following Trump's election victory, speculation intensified about him filling that role; ultimately though, Goldman Sachs' Steven Mnuchin took up the position with whom Dimon expressed great praise - something Mnuchin himself later acknowledged was "outstanding". People close to Dimon have told me he has repeatedly turned down requests to become Treasury secretary, most recently following Donald Trump's election. According to them, Dimon declined this role as his bank has special provisions allowing employees to accept government posts without losing all their stock-based pay and bonuses; plus they mention his plan to remain with the bank at least until 2023 without ever retiring anytime soon. Regarding his political philosophy, Trump is an outspoken capitalist who strongly endorses free market capitalism to alleviate poverty while accepting limited government help in solving social problems. Furthermore, he has no tolerance for those who attack corporate America or deny climate change as being relevant issues. If the right circumstances present themselves, he could decide to make a run at Cabinet office; but as it stands now he appears content to focus on his role at JPMorgan and creating the next generation of leaders. A great American success story still at his prime; more greatness awaits! Will Dimon Run for President? Dimon has become an influential voice on key U.S. issues since COVID-19 emerged, the 2008 financial crisis hit and JPMorgan struggled. He has spoken publicly on topics including voting rights, peaceful transition of power and debt ceiling. Describing himself as "complete patriot," Dimon seeks to influence policy in ways that benefit his nation. At 67 years old, Dimon has made headlines for his outspoken views on American politics - sparking speculation he might run for president one day. But the bank CEO is not looking forward to leaving JPMorgan to pursue political aspirations: 'Obviously it crosses my mind; however I intend on staying with JPMorgan for at least another three-and-a-half years," he told Bloomberg TV. Dimon would likely enter politics through becoming Treasury secretary or holding another senior finance role. Given Trump's history of hostility towards banks and given that many of their largest institutions are owned by government entities, such a move would likely be perceived as demotion for Dimon and Wall Street generally. Dimon testified during his deposition on Friday that he was unaware that longtime customer Jeffrey Epstein was suspected of sexually abusing young women until lawsuits against him surfaced in 2019. JPMorgan cut ties with Epstein after it became evident he was engaging in illegal behavior and taking money from those accusing him. JPMorgan severed all ties between 2013 and 2019 because they believed the music mogul committed multiple sexual offenses against young women while misappropriating assets belonging to his accusers. Mary Erdoes, JPMorgan's Head of Legal Affairs, also testified in the case against Epstein and has stated that the bank did not violate federal law by keeping accounts open for an alleged serial sexual offender. But Epstein's lawsuits have thrust the bank's reputation under scrutiny. At his deposition, Dimon stated he did not review Epstein's accounts despite having millions in deposit with them; further, he stated in court he hadn't heard about alleged sex crimes until 2019 and queried how Erdoes could have missed them when reviewing her accounts regularly.