Too Big to Retire? Wall Street CEOs Keep Next Generation Waiting
- Four bank chiefs have stayed in jobs longer than typical CEOs
- Succession plans on perpetual hold as Dimon quips about tenure
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Jamie Dimon just led JPMorgan Chase & Co. to the best year of any U.S. financial institution in history. Brian Moynihan steered Bank of America Corp. from the brink of ruin to years of profitability. With James Gorman at Morgan Stanley and Michael Corbat at Citigroup Inc., hard times have faded in memory.
These Wall Street captains have all been around awhile -- 14, 10, 10 and seven years, respectively. That makes them warhorses compared with the typical American chief executive officer, whose median tenure at big companies is 4.8 years, according to Equilar Inc.