JPMorgan CEO Dimon planning first ever stake sale

The chief executive of JPMorgan is planning to sell 1m shares in the bank next year.

According to a regulatory filing on Friday, Dimon and his family plan to sell the stock "for financial diversification and tax-planning purposes".

This will be the first time that Dimon sells shares since he joined the company two decades ago.

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

It noted that he and his family currently hold around 8.6m, and have unvested performance share units relating to 561,793 shares and stock appreciation rights relating to 1.5m shares.