JPMorgan Stock Would Decline 10% If Dimon Leaves Bank, Mayo SaysDawn Kopecki
JPMorgan Chase & Co. shares would probably fall by about 10 percent if Chief Executive Officer Jamie Dimon leaves the company, Mike Mayo, an analyst at CSLA Ltd., said today in a research note to clients.
The lender’s market value would likely drop by about $20 billion if shareholders vote on May 21 to strip Dimon of his chairman role and he leaves as some analysts predict, Mayo said.
The stock would suffer because the New York-based bank has no obvious successor to Dimon, 57, who is top-ranked among large bank CEOs, Mayo said.
JPMorgan declined 0.2 percent to $48.85 at 10:42 a.m. in New York. The shares have gained 11 percent this year, compared with the 14 percent advance of the 24-company KBW Bank Index.
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