JPMorgan Chase CEO Jamie Dimon talks to reporters as he leaves the U.S. Capitol after an unannounced meeting with U.S. Senate Majority Leader Schumer that was reportedly about the possibility of the U.S. defaulting on its debt, outside the U.S. Capitol in Washington, U.S., May 17, 2023. REUTERS/Evelyn Hockstein/File PhotoChief Executive Officer Jamie Dimon will sell part of his stake in the largest U.S. bank next year for the first time in almost 18 years at the helm, the bank said on Friday.
The sale would fetch nearly $141 million, with a remaining stake of about $1.07 billion, based on Thursday's closing price. It will account for less than 10% of the Dimon's holdings, which also include performance shares that have not vested and stock options.Dimon will sell the stock for "financial diversification and tax-planning purposes," and he "continues to believe the company's prospects are very strong," the bank said in the, a company spokesman said.
"In his rhetoric, he has become more negative and quite bearish," Marenzi said. "It doesn't look good, but they're massaging the optics as best they can." Reporting by Niket Nishant in Bengaluru and Lananh Nguyen in New York; Editing by Shilpi Majumdar, Shinjini Ganguli, Mike Harrison and Jonathan Oatis