JPMorgan's Dimon stealthily supports Harris, say insiders

Jamie Dimon, the outspoken and long-serving chief executive of JPMorgan, has reportedly expressed private support for Vice President Kamala Harris ahead of the upcoming presidential election.

Dimon, whose views on political matters are often closely watched, has not made any public endorsements. According to reports, he remains cautious about taking sides publicly due to the potential consequences should Republican candidate Donald Trump win the election.

The New York Times initially reported Dimon’s support for Harris, which was later confirmed by other sources familiar with his position. Still, Dimon is not expected to campaign for Harris, nor does he plan to pursue a formal role in her administration.

According to an unnamed source, Dimon has ruled out accepting a position in either a Democratic or Republican administration. This sentiment was echoed during a recent JPMorgan earnings call where Dimon said the likelihood of him taking on a government role was "almost nil." However, he did leave the door open, stating, “I probably am not going to do it. But I always reserve the right” to reconsider.

Although Dimon is considered by some to be a potential candidate for Treasury secretary, including by former President Donald Trump, it remains unclear whether he would accept such a role under any future administration. In a July interview, Trump said, “He is somebody that I would consider,” referring to Dimon’s qualifications for the Treasury role. However, Dimon has expressed no interest in leaving the private sector for government service at this point.

Dimon, who has been JPMorgan’s CEO since 2006, continues to be a vocal figure on economic policy. His annual letters to shareholders are widely regarded for their analysis of economic trends, including this year's take on AI, and he has previously spoken about his deep sense of patriotism. “I’ve always been an American patriot, and my country is more important to me than my company,” Dimon said in a recent call with analysts.

While Dimon’s eventual retirement has been the subject of speculation, he has gone on the record to say any decision on succession will be up to JPMorgan's board. Dimon reassured stakeholders earlier this year that he is prepared to continue in his role for the foreseeable future, though the timing of his departure remains uncertain.