JPMorgan Chase CEO Jamie Dimon has sold about $33 million of his shares within the bank, a regulatory filing showed on Monday, completing a previously disclosed plan to sell 1 million shares.
Last October, JPMorgan had said Dimon and his family intended to sell 1 million of their 8.6 million shares, the primary time Dimon was selling shares since becoming the CEO of the most important US lender in 2005.
Dimon sold the remaining 178,222 shares, based on the filing on Monday, after offloading 821,778 shares in February, equating to about $150 million.
Jamie Dimon and wife Judith Kent on the White House on April 10 for the State Dinner in honor of Japanese Prime Minister Fumio Kishida. AFP via Getty Images
The sale is for “financial diversification and tax-planning purposes,” and never related to leadership succession, an organization spokesperson had said in October.
JPMorgan didn’t immediately respond on Monday to a request for added comment.
The bank has a market capitalization of greater than $525 billion, based on LSEG data.
Last week, JPMorgan beat estimates for first-quarter profit, but forecasts for interest income fell wanting analysts’ expectations.
