“Heavy is the head wearing the crown”: Jamie Dimon says these are two things that change for those who become JPMorgan CEOs

• Jamie Dimon reflects on immeasurable pressure and responsibility It comes with reading jpmorgan chainstresses that becoming a CEO means that no one will postpone the total weight of a decision. As the bank narrows down its list of successors, Dimon’s insight into leadership highlights the frightening expectations awaiting his ultimate replacement.

Top job at JP Morgan is one of Wall Street’s most coveted roles; Probably the highest profile. But it is rare for anyone to experience a great force and take on the role from Jamie Dimon.

Dimon, nickname White Night on Wall Streetwas shocked by the audience last year when he announced his timeline for his succession. It’s not been five years anymore– The line he famously promoted Every time I ask.

Since then, several familiar front runners have appeared (one has fallen out). Dimon shows that running America’s biggest bank is no feat.

Previously, even the most experienced JP executives had to postpone Dimon in times of crisis, but as he moves, maintaining his position as chairman would remove the safety net to a considerable extent.

Move to CEO role Change two things. Dimon, who was paid $39 million for his job in 2024, said, “The first one is that no one complains.”

Second, there is no longer a fallback of leadership: “There is no implicit approval. It’s your decision. It’s just not,” Dimon said. economist In an interview.

“The heavy one is the head wearing the crown,” he added.

There is also a A handful of qualities That Dimon and the board are looking for his successor.

“There’s work ethic, there’s people’s skills,” he began. “There’s determination. You’d better have a little grit. There’s humility. You have the ability to form a team. There’s courage. Always observe the world and say, “Well, what can you do?”

Dimon’s leadership strategy at JP has over $3.4 trillion in assets under management (AUM) per website, but is well known.

He previously shared that he runs the bank using a military tactic known as “Ooda Loop,” explains in a 2023 letter to shareholders.

“We cannot overemphasize the importance and full assessment of observation, otherwise it will lead to some of the biggest mistakes, not just in war, but also in business and government.”

Queens, who is from New York, also World class athletes for leadership inspiration, talk economist: “Serena Williams, Tom Brady, Stephen Curry… See how they train and what they do to do that good. Very often, the senior leadership team loses it.

Who is running to become CEO of the next JPMorgan Chase?

Dimon has not made a firm promise as to when the next CEO will be named or who he will be, but the bank has been transparent in its succession plan.

The financial giant has named individuals who are considering in corporate filings to smoothly transition to the new face of the company and warmly transition the warm shareholders.

January, Two candidates dropped out of the running.

First was Daniel Pinto. “Hit the bus” CEOwhich means that the bank’s president and COO are always equipped to step into the role of leadership whenever the current boss becomes incompetent for any reason.

However, in January, the man who has served as Dimon’s right hand for seven years announced he would retire in 2026.

A few hours later Jennifer Piepsakalso known as a potential successor by JPMorgan, confirmed that she will take Pinto’s location as COO, adding that she has no interest in the CEO’s title.

“Jen has revealed her preference for the role of senior businesses that work closely with Jamie to support the top leadership team. At this point, we don’t want to consider CEO position.”He told CNBC. “She is deeply committed to the future of the company and our team and wants to help her in any way she can.”

It leaves four names, All the faces familiar to JP staff. The first one is Lake MarianneCEO of Consumer and Community Banking, and Mary EldosCEO of Asset and Wealth Management.

Troy Rollborgand those who lead commercial and investment banks are also on the roster.

This story was originally introduced Fortune.com