JPM Tier Below Dimon Talented, Experienced: Trone

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July 15 (Bloomberg) -- David Trone, director of research at MKM Partners, talks with Erik Schatzker about succession concerns at JPMorgan following Chief Executive Officer Jamie Dimon’s disclosure that he’s battling throat cancer. He speaks on “Market Makers.” Trone, his family and firm, do not own shares of JPMorgan Chase.

Has some degree of secession plans.

They do not tell it to the public and to analysts.

But the board of j.p. morgan and the operating committee, they have thoughts in mind.

And that contingency plan in place because -- just because we do not know it, does not mean that we should be too concerned.

They have a deep bench, a lot of talented people.

They have had some departures, but they also have a tier below jamie that is very experienced.

Is the focus on secession that jpmorgan right now appropriate?

Appropriate, given the fact that jamie is having health issues.

Is that the question?

It is always appropriate any other time.

Yesterday, citigroup signs an agreement with the justice department and other regulators to resolve an investigation into its sales of mortgage backed securities.

The market looks through that 100% and is paying attention to citigroup as an operating company.

Today the same thing would appear to be happening with jpmorgan.

The stock is up.

Yet all of the talk is about secession.

The questions on the conference call about secession -- -- succession.

I think the numbers are things that we as analysts on a conference call have a lot of experience.

We know how to handle it.

It becomes difficult when you get into some of these intangible factors like succession.

You cannot quantify it.

Jamie is a major figure in the american financial system.

Obviously, replacing somebody of that caliber is a pretty big issue, but i think the appropriateness, look it is business.

This is a very important thing.

It is absolutely appropriate.

And something witty to focus on.

Again -- something we need to focus on.

I'm not obsessed about it because i have a lot of confidence in jamie and the team that they have some plans in place.

In the unfortunate event that his health does not turn around as easily as he hopes.

They give her joining us this morning.

The director of research at mkm

This text has been automatically generated. It may not be 100% accurate.

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