Speculation is mounting that JPMorgan CEO Jamie Dimon is backing Kamala House for the White House and could even join her administration — despite recent denials and downplaying from company insiders including the Wall Street titan himself.
The 68-year-old banking boss is backing the Democratic candidate’s presidential bid, the New York Times reported on Tuesday, with the top banker telling his inner circle of his dislike for Donald Trump.
Dimon has stopped short of publicly endorsing either candidate for America’s top job, but the left-leaning Times said the Queens native would be open to serving under a Harris presidency.
The newspaper said that Dimon could become Treasury Secretary if Joe Biden’s No. 2 emerges victorious on Nov. 5.
The report come more than a month after The Post’s Charles Gasparino‘s scoop on Sept. 12 that Dimon was “more likely to accept” working in a Harris administration.
Dimon had previously all but ruled himself out about leaving the Wall Street giant for a government job, telling analysts that the chance of that happening is “almost nil.”
But he went on to add in his widely read annual letter in April: “I’ve always been an American patriot and my country is more important to me than my company.”
A JPMorgan spokesman on Tuesday referred The Post to Dimon’s previous comments about the likelihood of him joining the next administration.
The Times, quoting three people close to Dimon, said that the long-serving executive had no interest in being part of Trump’s cabinet because of the former president’s refusal to concede the 2020 election.
However, he is keeping quiet about his preference because he fears possible retribution if the Republican wins a second four-year term, according to the report.
While the top money man has been cautious in his public remarks over who he wants to win, Dimon has been willing to weigh in on hot political topics such as the war in Ukraine, inequality and immigration.
He also penned an op-ed for the Jeff Bezos-owned Washington Post, the newspaper of choice for the self-styled DC elite, in which he demanded the next president “restore our faith in America.”
Dimon wrote that “the best leaders” in this country “don’t pander to base politics or cater to extremes” in what was seen by some as a thinly-veiled dig at the former commander-in-chief.
Sources close to the JP Morgan chief executive insisted at the time that he was not endorsing Harris with those words.
Trump, meanwhile, falsey claimed that Dimon, who once branded Trump’s election denialism as “treason,” had endorsed his bid to take back the White House.
Dimon, who has served as CEO for nearly two decades, often meets with world leaders in charge of drawing up rules and regulations that impact upon the financial industry.
His prediction that he is likely to stay in his current job “for a very long time” may still play out to be true considering Trump’s growing momentum in the race.
Trump told Bloomberg in July that he was openly considering Dimon for the position of Treasury Secretary.
He walked those comments back just three weeks later, suggesting on Truth Social that it was merely a rumor made up by “the Radical Left.”
A government job would represent an eye-popping pay cut for Dimon, whose 2023 pay package included a base salary of $1.5 million and a $34.5 million performance bonus, according to regulatory filings.
By contrast, Joe Biden’s Brooklyn-born Treasury Secretary Janet Yellen is paid $246,400, according to an executive order signed by the outgoing commander-in-chief in December.
Dimon took the reins at JPMorgan in 2006. He has emphasized that he and the rest of the board will “do the right thing” on succession when he eventually leaves, without specifying details.
Names in the frame to replace the Wall Street titan when he does eventually head for the exit include Mary Erdoes, the head of JP Morgan’s asset wealth management, and Jennifer Piepszak, who is co-CEO of the company’s investment bank division.
With Post wires
