JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon has no intensions of joining the Trump administration and will remain at the helm of the megabank, Reuters reported Wednesday, citing an unnamed source.

The news puts to rest speculation among both Republicans and Democrats about Dimon being a candidate for Treasury secretary.

Last month, though, he said his prospects of securing an official position were "almost nill," Reuters noted.

Trump, who will return to the White House after winning the 2024 presidential election, in July retracted a previous statement about potentially appointing Dimon as Treasury secretary.

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