>> Jamie Dimon, one of the biggest names in corporate America, is sticking around. Throwing water on the idea he'll run for President of the United States anytime soon. JPMorgan Chase announced Monday that its 61 year old Chairman and CEO has agreed to stay on for about five more years, putting him out of the running for the 2020 race for the White House for the time being.
Dimon's name has often been thrown into the hat for those who could run for political office. He's well liked in Washington and on Wall Street. And he's one of very few Wall Street titans who survived the 2008 financial crisis and is still in the job. Dimon's track record isn't without its blemishes.
In 2009, JPMorgan Chase paid a $13 billion settlement to the US government, related to bad mortgages sold in the run-up to the crisis. And in 2012, Dimon had to account for a trading scandal dubbed the London Whale, which cost the bank $6 billion in losses. As part of Monday's announcement, executives Daniel Pinto and Gordon Smith have been promoted to co-presidents and co-chief operating officers.
Their promotion no doubt kicking off the horse race for who ultimately takes over for Dimon. Who, if he stays for another five years, will have led the bank for nearly two decades, which included a successful battle against cancer.