Last week, rumors circulated that Jamie Dimon, the JPMorgan Chase CEO whom President-elect Donald Trump had once called the “worst banker in the United States,” was being considered by the incoming Trump administration for the position of Secretary of the Treasury. However, a new report claims that Dimon has formally passed on the offer.
According to Fortune.com, Dimon opted to stay on at Chase rather than accept the cabinet position, feeling he wasn’t quite suited for the gig. As the report notes, the CEO is well-known — if not infamous — for his outspoken ways, a personality that may work in the banking world, but might not fit in well with a job where you have to constantly answer to the White House, lawmakers, and the public.
Barring a dark horse nominee that no one has discussed yet, this leaves Trump transition adviser, and former Goldman Sachs exec Steve Mnuchin as the most likely person to be named for the Treasury gig. Bloomberg recently reported that he is the favorite for the gig among Trump’s advisors, with bank-backed Texas Congressman Jeb Hensarling — perhaps the legislator most intent on dismantling the Consumer Financial Protection Bureau — and investor Wilbur Ross Jr. as possible nominees.
by Chris Morran via Consumerist