Jay Fishman, CEO of Traveler's (TRV) since 2004 and friend of Dimon's since the 1980's, appeared on the cover of Forbes under the title "Wall Street's Honest Man" because of his straightforward talking and conservative investing practices. Fishman came to Traveler's in 1993 as their chief financial officer when Traveler's bought Primerica, where Fishman was working as an executive at the time. Fishman's navigation through the financial crisis that left Traveler's unscathed would make him a possible candidate for the position.
Fishman and Dimon's relationship goes back to the creation of Citigroup (C) under Sandy Weill. Were JPMorgan to prove unwieldy to shareholders and regulators, Fishman, having served during the rise and fall of Citigroup, could have the right touch to reign in the bank's operations.