Gillian Tan, Columnist

Behind Jamie Dimon, JPMorgan's Bench Remains Deep

Matt Zames's departure shouldn't worry shareholders.

June 8, 2017 at 8:04 PM UTC

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

1496952344_GettyImages-633687626 — Photographer: Chip Somodevilla

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JPMorgan Chase & Co.'s chief operating officer Matt Zames is bidding the bank farewell. Investors needn't follow.

The departure of 46-year-old Zames, considered a possible successor to CEO Jamie Dimon, is surprising, given his upbeat letter in the bank's annual report, published just two months ago. He ended his five-page missive saying he had "never been more excited about the opportunities ahead".1496949469767 But the 61-year-old Dimon is unlikely to step down anytime soon, and Zames may have felt his opportunities at the bank were limited.