"Don't go, Dimon!" Investors are reluctant to bid farewell to the legendary head of Morgan Stanley

According to the Zhitong Finance APP, Jamie Dimon’s career as the CEO of JPMorgan Chase (JPM.US) is nearing its end, yet his influence on Wall Street and in American politics may be at its peak. Because of this, investors may not be ready to bid farewell to the 69-year-old executive. Mike Mayo, a Wells Fargo analyst who has studied JPMorgan Chase for years, bluntly stated, “They are saying, ‘Jamie Dimon, don’t go!’” Mike Mayo added that he has “unprecedented public influence, which is closely related to his position at JPMorgan Chase.” Bank of America analyst Ebrahim Poonawala stated that Dimon’s succession is the “largest single special risk factor” for JPMorgan Chase’s stock price. Therefore, when investors gather at JPMorgan Chase’s Manhattan headquarters for this week’s annual Investor Day event, questions about Dimon’s future plans will be their primary concern. This event provides the CEO and his executive team an opportunity to present the latest operational status of America’s largest bank. Some executives, such as Consumer & Community Banking head Marianne Lake, are seen as potential successors to Dimon. At last year’s Investor Day, Dimon revealed to investors that his retirement timeline is “less than 5 years.” In a January analyst conference call this year, he reiterated that his “basic situation” is that he will step down in a few years. Although Dimon has repeatedly hinted that his time as the head of JPMorgan Chase is limited, various events in 2025 have further solidified Dimon’s important position. He has become a significant voice in discussions regarding policies related to the Trump administration—clearly someone Trump is willing to listen to. Trump even acknowledged that he had heard Dimon’s opinions just hours before announcing a 90-day suspension of the “Liberation Day” tariffs on April 9. On the morning of April 9, Dimon stated in an interview that a recession is “a possible outcome” and suggested that the Trump administration should let Treasury Secretary Mnuchin lead trade negotiations with other countries. Subsequently, Trump stated, “Dimon makes a lot of sense.” After announcing the suspension of tariffs that day, Trump also told reporters that he had seen the interview and called Dimon “very smart.” On April 15, Dimon also called for high-level talks between the U.S. and China in an interview. A week later, at a private JPMorgan Chase event in Washington, Treasury Secretary Mnuchin revealed to attendees that he expects tensions with China to ease. This news boosted market sentiment. Dimon has been quite low-key about his influence on Trump. In an interview last week, he stated, “I’m just one of many opinions, and if that helps, that’s great.” When asked if he communicates regularly with Trump, Dimon replied, “No, I don’t.” He added, “I talk to everyone over there.” It is certain that whoever takes over will face difficult challenges. Under Jamie Dimon's leadership, JPMorgan Chase has far surpassed its industry rivals in customer deposits, market valuation, and annual profits in recent years. In terms of stock price, since Dimon became CEO in 2006, JPMorgan Chase's stock has averaged an annual increase of 20%, exceeding the S&P 500 index's average annual increase of 13.4% during the same period. Meanwhile, JPMorgan Chase's stock performance has also outperformed the benchmark for the U.S. banking industry, the KBW Bank Index, which has averaged an annual increase of 7.2% since 2006. JPMorgan Chase is also far ahead of its competitors in terms of profitability efficiency. As of the end of last year, JPMorgan Chase's expenses were only $0.51 for every $1 of revenue, significantly lower than the expense levels of peers such as Goldman Sachs (GS.US), Bank of America (BAC.US), Wells Fargo (WFC.US), Citigroup (C.US), and Morgan Stanley (MS.US), whose expenses generally exceed by $0.12 to $0.20. Notably, JPMorgan Chase is also continuously increasing its investment in technology, with an investment of $17 billion by 2024, and continues to open hundreds of physical bank branches. According to estimates from Wells Fargo, JPMorgan Chase also holds over $50 billion in excess capital. This capital could be used for further lending, dividend distribution, stock buybacks, or even new acquisitions. JPMorgan Chase shareholder Mindee Wasserman commented on Dimon, saying, "If he wants to continue for as long as he can, that's fine." "I certainly hope he won't leave before the next election."