JPM JP Morgan Chase and Co

By David Benoit 

JPMorgan Chase & Co. Chief Executive James Dimon has been released from the hospital and is recovering at home, a week after undergoing emergency heart surgery, the bank said in a memo to employees Thursday.

"We want you to know that his doctors said he is doing very well in all aspects of his recovery," the memo from co-Presidents Daniel Pinto and Gordon Smith said. "He is in good spirits and looking forward to reengaging with our team soon."

Mr. Dimon, who turns 64 on Friday, checked himself into a Manhattan hospital on March 5 after experiencing chest pains while getting ready for work.

He had suffered an acute aortic dissection -- a rare and often fatal separation of tissues in the wall of the aorta -- and underwent several hours of surgery to repair it.

Messrs. Pinto and Smith are running JPMorgan in Mr. Dimon's absence, a live test of the bank's board-approved emergency succession plan.

Mr. Dimon's sudden illness coincided with a sharp market selloff brought on by the worsening coronavirus outbreak. Bank stocks, in particular, have suffered. Shares of JPMorgan are down 37% this year after hitting all-time highs on the first day of trading this year.

Mr. Dimon has been CEO of JPMorgan since 2005, the longest run of the current big bank chiefs, and his eventual retirement has long been the subject of speculation. When asked about his retirement plans on a call with reporters earlier this year, Mr. Dimon said he had about five years left in the job.

People close to Mr. Dimon said his timeline hasn't changed, and he has been in contact with JPMorgan staff during his recovery.

Write to David Benoit at david.benoit@wsj.com

(END) Dow Jones Newswires

March 12, 2020 13:26 ET (17:26 GMT)

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