JPMorgan Chase CEO Jamie Dimon has offered about $33 million of his shares within the financial institution, a regulatory submitting confirmed on Monday, finishing a beforehand disclosed plan to sell 1 million shares.
Final October, JPMorgan had mentioned Dimon and his household supposed to promote 1 million of their 8.6 million shares, the primary time Dimon was promoting shares since changing into the CEO of the most important US lender in 2005.
Dimon offered the remaining 178,222 shares, in line with the submitting on Monday, after offloading 821,778 shares in February, equating to about $150 million.
The sale is for “monetary diversification and tax-planning functions,” and never associated to management succession, an organization spokesperson had mentioned in October.
JPMorgan didn’t instantly reply on Monday to a request for extra remark.
The financial institution has a market capitalization of greater than $525 billion, in line with LSEG knowledge.
Final week, JPMorgan beat estimates for first-quarter profit, however forecasts for curiosity earnings fell wanting analysts’ expectations.
