• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health

2

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

3

The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era

1

'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health

2

Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it

3

The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
Leadership

Here’s Why Trump Outreach to Jamie Dimon for Treasury Post May Fall Flat

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
November 11, 2016, 4:15 AM ET
Fortune Global Forum 2015
FORTUNE GLOBAL FORUM Wednesday, November 4th, 2015 2015 FORTUNE GLOBAL FORUM San Francisco, CA, USA 11:25 am-12:00 noon THE DECADE AHEAD Since ascending to the CEO job at JPMorgan Chase & Co. ten years ago, Jamie Dimon has powered through the financial crisis and grown the company’s stock by more than 60%at a time when the S&P Financials index declined by more than 20%. In this closing session, he’ll discuss lessons learned along the way and how banking has changed since the financial crisis Speaker: Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co. Interviewer: Alan Murray, Fortune Photograph by Stuart Isett/Fortune Global ForumPhotograph by Stuart Isett—Fortune Global Foru
Add Fortune on Google for similar content.

JPMorgan Chase Chief Executive Officer Jamie Dimon did not support Republican Donald Trump’s presidential campaign, yet some Trump advisers want America’s most famous banker to become Treasury Secretary to calm nerves on Wall Street.

A member of Trump’s transition team contacted Dimon recently to see if he would be interested in the role, two people familiar with the matter told Reuters on Thursday.

It was not clear whether Dimon had responded, though he has said emphatically multiple times that he was not interested in the role. JPMorgan (JPM) spokesman Andrew Gray declined to comment, and Dimon, who is traveling outside the United States, could not be reached.

Trump’s close circle of advisers includes several with Wall Street ties. His campaign finance manager, Steven Mnuchin, is a former Goldman Sachs Group (GS) banker. Fundraiser Anthony Scaramucci is a hedge fund executive.

A person familiar with Trump’s personnel efforts said the transition team’s list included Dimon, Mnuchin and Rep. Jeb Hensarling. The person said that Mnuchin was a more likely choice given his proximity to Trump.

Trump’s controversial rhetoric and behavior during the campaign concerning immigrants, women, minorities, the disabled, Muslims and China, among other things, were offensive to many senior Wall Street executives who have tried to embrace inclusion, diversity and globalization.

Trump also criticized Wall Street on the trail, saying the industry “got away with murder” and would not be let off the hook.

 

Since being elected on Tuesday, Trump has softened his tone and tried to bridge gaps by meeting with President Obama and taking calls from foreign officials. Bringing Dimon on board could help him mend fences with the financial industry, which appears to be coming around to the idea of Trump in the White House.

At an event on Thursday, Goldman Sachs Group CEO Lloyd Blankfein said Trump could be good for the economy and Dimon would be an excellent choice for Treasury Secretary, while hedge fund manager Bill Ackman said Trump’s advisers would get “the best and brightest” to run the economy.

Hensarling’s office indicated in a statement that he did not want the job.

“Serving in his Cabinet is not something I’ve indicated an interest in and it’s not something I am pursuing,” the statement said. He said he looked forward to working in Congress to repeal the Dodd-Frank Act which tightened regulations on Wall Street in the wake of the financial crisis.

Dimon, a lifelong Democrat, has been floated as a possible candidate for roles like Treasury Secretary in the past. However, resentment toward bankers following the 2007-2009 financial crisis made his candidacy much less likely, as did JPMorgan-specific scandals related to a costly derivatives trade and bad mortgages.

A $13 billion mortgage settlement JPMorgan reached with the federal government in 2013 prompted Trump then to call Dimon “the worst banker in the United States.”

However, Dimon has managed to retain a reputation within the banking industry as a distinguished leader, in part by the way he handled those scandals and the way he talks about JPMorgan’s role in society as the largest U.S. bank.

For instance, Dimon decided to have JPMorgan make big investments in Detroit, calling it a civic duty to turn around an economically challenged city. His memos, speeches and letters to shareholders are often sprinkled with patriotic language.

“America is best when we come together with clear leadership, expertise and the political will to take on difficult challenges and get things done,” the 60-year-old chairman and CEO said in a memo to JPMorgan Chase employees following Tuesday’s election. “No one should ever doubt the strength and resilience of our country and our democracy.”

However, Dimon has said as recently as September that he would not want a role as Treasury Secretary. If he holds to that, it could put him and JPMorgan in an awkward position.

Saying “no” to a presidential request to join the cabinet is unusual, and the bank would then be overseen by appointees from an administration Dimon rejected.

Even so, his associates do not expect Dimon to say “yes.”

Dimon has said his determination to act would make it hard to make political compromises. Talking before an audience in September, he said the only job in government he would want is the one Trump is about to get.

“I would love to be president of the United States of America,” Dimon told the Economic Club of Washington. “Until Donald Trump got to where he was, they said you’ll never see a rich businessman who’s never been in politics be president. I clearly was wrong about that.”

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

Kylian Mbappe #10 of France celebrates with teammates
North AmericaWorld Cup
World Cup teams will be paid a record $871 million: Each team will get $12.5 million as a bare minimum for playing and ‘preparation money’
By Emma BurleighJune 21, 2026
40 minutes ago
ace
AIEconomics
Nobel Laureate Daron Acemoglu on the ‘brainless’ AI discourse, the myth of capitalism and the Gen Z revolution risk
By Nick LichtenbergJune 21, 2026
2 hours ago
b
Arts & EntertainmentBarack Obama
The first 100 visitors to the Obama Presidential center got a surprise: Barack and Michelle
By Claire Savage and The Associated PressJune 20, 2026
17 hours ago
‘I literally was crying last night because I’m nervous about what I’m going to find out’: a record 51% of Americans aren’t ‘cost secure’ on health
HealthHealth Care Service
‘I literally was crying last night because I’m nervous about what I’m going to find out’: a record 51% of Americans aren’t ‘cost secure’ on health
By Ali Swenson, Amelia Thomson-Deveaux and The Associated PressJune 20, 2026
17 hours ago
c
EuropeObituary
Claude Guillemot, who built Ubisoft into a gaming empire, dies at 69 in plane crash
By Angela Charlton and The Associated PressJune 20, 2026
17 hours ago
j
Arts & EntertainmentObituary
James Burrows, director who defined the American sitcom from ‘Cheers’ to ‘Friends,’ dies at 85
By Beth Harris and The Associated PressJune 20, 2026
18 hours ago

Most Popular

'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health
Health
'I literally was crying last night because I’m nervous about what I’m going to find out': a record 51% of Americans aren't 'cost secure' on health
By Ali Swenson, Amelia Thomson-Deveaux and The Associated PressJune 20, 2026
17 hours ago
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
Environment
Jeff Bezos pledged $10 billion for climate change. With the 2030 clock ticking, his wife, Lauren Sánchez Bezos, is leading the charge to spend it
By Sydney LakeJune 19, 2026
2 days ago
The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
Economy
The Great Recession’s missing children are finally bringing college’s financial crisis into sight. Welcome to the ‘enrollment volatility’ era
By Tristan BoveJune 20, 2026
1 day ago
Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
Success
Nvidia CEO Jensen Huang says electricians and plumbers will be needed by the hundreds of thousands in the new working world
By Preston ForeJune 20, 2026
23 hours ago
A new trade war may be brewing. This time, Europe is taking a page from Trump's playbook — 'We no longer live in a world of pink ponies and rainbows'
Economy
A new trade war may be brewing. This time, Europe is taking a page from Trump's playbook — 'We no longer live in a world of pink ponies and rainbows'
By Jason MaJune 20, 2026
13 hours ago
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
Success
Microsoft boss Steve Ballmer publicly dismissed Chrome as a 'rounding error'—but Google’s CEO says he used the jab as fuel to win the browser-wars
By Preston ForeJune 17, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.