JPMorgan Chase CEO Dimon turns down Trump treasury secretary offer - report

Reports had suggested this week that the president-elect was courting the chief executive officer of investment bank JPMorgan Chase to fill the position, despite pledging during his campaign that he would cut government ties with major Wall Street banks.

According to Fortune's sources, Trump's transition team made an approach to Dimon, who has been head of JPMorgan since 2006. Fox News' Maria Bartiromo said on Wednesday that Dimon was going to accept the offer, but the latest reports suggest the contrary.

Dimon has gained a reputation as one of the most outspoken and uncompromising characters on Wall Street, and has previously expressed an interest in running for president of the US.

He said in September of this year that he "would love to be president".

He also said that he didn't understand the anger expressed by much of the electorate with regard to the economy and general state of the country.

"America has the best hand ever dealt to any country on this planet, ever. Yes, we have problems, but you travel around the world, you'll see we have it all," he said.

The bank's shares fell 2.5% after the news was reported.

Deutsche Bank analysts said that the appointment of treasury secretary had become a two-horse race between Dimon and former Goldman Sachs executive Steven Mnuchin.

"The fact that Jamie Dimon is still in the race after his public comments downplaying his desire for the role would be a surprise to many, but he would certainly be another appointment that Wall Street would appreciate. Indeed both potential candidates are Wall Street veterans."