JPMorgan CEO Jamie Dimon reveals top traits for his successor: admit mistakes and 'work your ass off'

JPMorgan CEO Jamie Dimon reveals top traits for his successor: admit mistakes and 'work your ass off'
JPMorgan CEO and chairman Jamie Dimon revealed top traits for his successor.Drew Angerer/Getty Images
  • JPMorgan CEO Jamie Dimon revealed top traits for his successor at the bank's investor day on Monday.
  • Dimon said the best candidates should "give a shit" and have curiosity, grit, and courage.

JPMorgan CEO Jamie Dimon on Monday revealed what it would take to become his successor.

"I think the most important strength is that you're trusted and respected by people. That you work your ass off. That you give a shit. That you know you don't know everything," he said at the company's annual investor day, according to a transcript of his remarks from Sentieo. "They have curiosity. They have grit. They have courage."

Beyond that, Dimon said the right candidate is someone who is willing to admit when they've made a mistake.

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"You're willing to change direction. You're willing to go in front of your shareholders and say, 'We screwed up. We made a mistake. We were wrong about that,'" he said.

The top candidate also won't dwell on past decisions.


"I don't think I've ever defended a decision," he said. "I just want to do the right thing going forward. That's it."

Dimon became CEO of JPMorgan in 2006 and became chairman of the board the following year. He provided investors with an overview of the firm's growth and spending plans at Monday's event.

He outlined the ideal traits of his successor towards the end of the presentation and also answered questions about his management style.

Dimon said he's 'intense' and had to learn to show gratitude

Dimon described himself as "intense," saying, "I'm not going to change, I'm not going to play golf," Insider's Emmalyse Brownstein and Hayley Cuccinello earlier reported.

"I think when I don't have that intensity, I should leave," he said. "I don't think CEOs should retire in place and just cut back and take it easy for a while. I think that erodes the whole company over time."


He also highlighted the importance of showing appreciation, and referred to a time when he was asked how he shows gratitude to his direct reports.

"A couple of my direct reports were in the room and they burst out laughing because I don't really on a regular basis show gratitude to my direct reports," he said, according to the Sentieo transcript. He said he worried early in his career that if he ever showed gratitude, his reports would just ask him for more money. But that wasn't the case.

"People like gratitude," he said. "And so I learned that lesson over many years."

He didn't share many specifics on his succession plan. But he said the board already had several candidates that fit the profile he outlined.

"I think the board is very comfortable that we've got really top choices here," he said.