Jamie Dimon  tells FT he’s delegating more


J.P. Morgan Chase CEO Jamie Dimon is delegating more management responsibilities to two senior executives, the Financial Times reported.

In January, the bank announced Dimon will stay in his role for five more years and named Daniel Pinto and Gordon Smith as co-presidents and co-chief operating officers. They are, respectively, the CEOs of J.P. Morgan’s corporate and investment bank and its consumer bank.

Dimon told the Financial Times he is giving the two co-presidents bigger roles running the company.

“There’s a little truth to that,” the 62-year-old Dimon said when asked about transferring increased day-to-day management responsibilities to the executives. “When you have Tom Bradys on the field, you let them be the quarterback and you can be the coach. … In many cases, I’m more like the coach now. That’s totally appropriate.”

See here for the full Financial Times report.