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Monday, November 23, 2009

Report: JPMorgan Chase CEO Emerges as Treasury Secretary Candidate

By Matt Egan

FOXBusiness

It’s not clear he’s going anywhere but if Treasury Secretary Tim Geithner were to lose his job, JPMorgan Chase (JPM) CEO Jamie Dimon is emerging as a potential replacement, the New York Post reported.

A number of policy makers have begun mentioning Dimon as a successor to Geithner, who has come under new attacks over his handling of the U.S. economy and ties to Wall Street, the paper reported, citing unnamed sources.

Still, it seems unlikely at this point that President Barack Obama would accept Geithner’s resignation. And even if he did, it might be tough to convince Dimon to give up his big salary at JPMorgan, which has been seen as one of the healthiest U.S. banks.

People familiar with Dimon’s thinking told the Post he “would love to serve his country” but that he believes Geithner is doing “a good job” and plans to stay at JPMorgan for another “six or seven years.” Dimon was considered a candidate to lead the Treasury Department last year after Obama was elected.

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