JPMorgan Chase CEO Jamie Dimon has confirmed he will remain with the bank, ruling out any intention of joining the Trump administration despite recent speculation.

Dimon, a highly regarded leader in corporate America, has run JPMorgan for nearly two decades and has been frequently discussed as a possible Treasury secretary candidate.

He congratulated President Trump and Vice President-elect JD Vance and expressed JPMorgan’s commitment to working with leaders across the political spectrum. Dimon had previously indicated his likelihood of taking a government position was “almost nil.”

The stock market responded positively to news of Dimon’s decision to stay, with JPMorgan’s stock rising over 10%.