Jamie Dimon to Sell 1 Million JPMorgan Shares for the First Time

‘Mr. Dimon continues to believe the company’s prospects are very strong, and his stake in the company will remain very significant.’

JPMorgan Chase & Co. chairman and CEO Jamie Dimon testifies before the House Financial Services Committee on June 19 in Washington. Mr. Dimon announced that the bank made $5 billion in profits last quarter. Chip Somodevilla/Getty Images

JPMorgan Chase CEO Jamie Dimon plans to sell a portion of shares in the U.S. bank for the first time since he joined the Wall Street giant nearly two decades ago.

According to the bank’s filing on Oct. 27, Mr. Dimon and his family will sell 1 million shares in the lender from next year “for financial diversification and tax-planning purposes.”