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JPMorgan Chase CEO Returns to Work After Medical Leave

By Eric Volkman – Apr 3, 2020 at 6:38PM

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The bank's long-serving leader had been recovering from emergency heart surgery.

One of the most high-profile CEOs in the banking industry is back at his desk, at least in the virtual sense. JPMorgan Chase's (JPM -2.15%) longtime leader Jamie Dimon has returned to work, according to a memo obtained by various media.

Dimon had been required to undergo emergency heart surgery in March. Temporarily replacing him were the big bank's two co-presidents, Gordon Smith and Daniel Pinto.

In the memo circulated to the company's employees, Dimon wrote, "I have been recuperating well and getting stronger every day, and I am happy to be back to work this week -- albeit working remotely like so many of you."

A bank of Chase ATMs inside a branch.

Image source: JPMorgan Chase.

At the moment, a great many JPMorgan Chase employees are working from home to comply with "stay-at-home" mandates aimed at mitigating the spread of the SARS-CoV-2 coronavirus. The bank is headquartered in New York City, which has been hit particularly hard by the outbreak.

Dimon is considered by many bank observers and investors to be one of the most effective CEOs in the sector. He certainly has the confidence of its shareholders, as he has served in that position since the end of 2005.

This makes him one of the few big-bank leaders to have served through the financial crisis of the late 2000s. He has had a long career in finance: Previous to his time at JPMorgan Chase, he was an executive at companies such as Citigroup and American Express.

Despite the return of its chief, JPMorgan Chase stock fell more steeply than the broader equity market Friday, declining by almost 3% on the day.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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