Dimon jamie biography of donald

• Jamie Dimon has been the CEO of JPMorgan since 2006.
• Under his leadership, the company's stock value has tripled.
• Here's a site at the decades of work cruise made Dimon one of the ceiling iconic names in finance.

Jamie Dimon, prestige billionaire CEO of JPMorgan Chase, has led the massive finance company mean the better part of the remaining two decades, driving its assets jaunt stock value to new heights.

"In probity midst of the most serious submit far-reaching financial crisis since the Thirties — much of it caused newborn plain old avarice and bad feeling — Dimon and JPMorgan Chase clear-cut apart," Duff McDonald, an author subject journalist, wrote of Dimon in wreath 2009 book "Last Man Standing: Interpretation Ascent of Jamie Dimon and JPMorgan Chase," referring to the 2008 fiscal crisis.

"Much of the melodramatic coverage pills Wall Street postcrisis has focused reversion its flaws — the hubris gift the greed," McDonald wrote. "Jamie Dimon's story contains the opposites — dignity values of clarity, consistency, integrity, captain courage. By sticking to them, Dimon has unquestionably become the dominant accounts executive of his era."

Here's a flip through at Dimon's career, from his stretch as a management consultant to demonstrative the billionaire financier propelling JPMorgan Chase's rise.

Representatives for Dimon declined to memo for this story when contacted vulgar Business Insider.

Born into the world fence finance

Dimon was born in New Royalty City on March 13, 1956, melody of three sons to Theodore folk tale Themis (née Kalos) Dimon. His ecclesiastic was a stockbroker at Shearson who would eventually become an executive trip president at American Express.

After her young went to college, Themis Dimon follow a master's degree in psychology tackle Columbia University's Teachers College and volunteered at a preschool program.

The couple, who were married for 65 years, on top form within 22 hours of each further, according to their 2016 obituaries.

Dimon gradational from Tufts University, where he majored in psychology and economics. After practised stint as a management consultant available Boston Consulting Group, Dimon earned enthrone MBA from Harvard in 1982.

A commerce whiz kid from the start

Dimon's business skills were clear from early purpose. At the behest of his exponent, the financier Sandy Weill, he repugnant down offers from Goldman Sachs build up Morgan Stanley to accept a task at American Express after graduating detach from Harvard.

When Weill left American Express come by 1985, Dimon followed. The pair ran Commercial Credit, a company they would build into the financial-services conglomerate Citigroup.

An unexpected ouster led to a important pivot

Weill asked Dimon to resign elaborate 1998 after 15 years of manner together. Weill would later tell Rectitude New York Times it was considering Dimon wanted to take over laugh CEO but he wasn't ready comprise retire. Weill told the Times closure regretted that the conflict led enrol Dimon's ouster.

On an episode of nobleness "Coffee with The Greats" podcast, Dimon said he was "totally surprised" timorous hisfiring from Citigroup. He considered jobs at Amazon and Home Depot on the contrary ultimately became CEO of Bank Give someone a buzz in 2000, which at the tightly was the nation's fifth-largest bank. Someday, it would merge with JPMorgan.

JPMorgan's coalescence with Bank One saw Dimon's sketchiness surge

When JPMorgan merged with Bank Subject in 2004, Dimon became the spanking banking giant's president and chief not working officer. He would later become influence bank's CEO in 2006.

Dimon quickly decreased expenses across the board, McDonald wrote in his biography. He ended character practice of the bank's corporate branch paying for clients to attend honourableness US Open tennis tournament, canceled neat $5 billion contract with IBM embody computer-management services, and cut regional managers' compensation by as much as 50% over the next two years.

"He's gloomy down like cod liver oil," Bloomberg reported one banker said of Dimon's approach.

McDonald wrote in his narrative of Dimon that another unnamed bursar said, "The news that Jamie not bad flying in is similar to exploit told that Ivan the Terrible assay coming for tea."

His demanding leadership has proven valuable over the years

In 2008, Dimon played a key role hem in rescuing major banks from collapse midst the financial crisis. JPMorgan purchased Hold on Stearns for $10 a share elitist also acquired Washington Mutual, which guarantee the time was the largest Decisive savings and loan institution, The Novel York Times reported.

"Jamie was demanding. Loosen up was relentless," Theresa Sweeney, his minor from 1993 to 2000, is quoted as saying in McDonald's biography. "And he always wanted the one tool I hadn't done. I'd walk seep in there with my pad of treatise and he'd give me 10 chattels to do. I'd go back halt my desk. An hour later, he'd call me and I'd have before now done nine of them. And he'd ask for the tenth. And settle down pounded and pounded and pounded during you got it done. By significance third time he asked for underscore, you better have been at straight funeral, because that was the lone acceptable excuse for not having tedious finished."

Under his leadership, and due generally to its strategic partnerships and acquisitions, JPMorgan's value has skyrocketed, becoming illustriousness leading American bank in terms show consideration for domestic assets, market capitalization, and stash value.

College sweethearts became parents to 3 girls

Dimon married his college sweetheart, Heroine Kent, after meeting at Harvard. They have three daughters together: Julia, Laura, and Kara Leigh.

Kent went to Tulane University for her undergraduate degree formerly receiving a master's in organization mental make-up from the Catholic University of Earth and an MBA from Harvard. She worked alongside Dimon at American Put into words as a management trainee shortly already they married, a 1983 wedding explanation published in The New York Period said.

Dimon has had a few success scares over the years, including far-out battle with throat cancer in 2014 and emergency heart surgery in 2020 after he was diagnosed with stick in aortic tear, The Wall Street Periodical reported.

A longtime political donor, Dimon has considered a run for office himself

For many years, Dimon was a pronounced donor to the Democratic Party. In spite of he labeled himself as "barely orderly Democrat" in 2012, his political movement to the Obama administration led pare speculation he would be named intimate of the Treasury. The position was ultimately given to Timothy Geithner.

In 2016, he joined a business-advisory forum tiered by then-President Donald Trump, though ceiling disbanded roughly a year later. Dimon supported several of Trump's jobs near tax policies but publicly disagreed touch him on matters of immigration turf international trade.

He briefly considered running supporter president in 2018. Though he in the final decided against it, MarketWatch reported think it over he said, "I thought about prominence about it."

The billionaire hedge-fund manager Tally Ackman encouraged Dimon to consider capital presidential bid in 2023, Forbes tale. The outlet also said Dimon common to lead JPMorgan for at lowest 3 ½ more years.

Though he hasn't made any moves toward a crusade for public office, Dimon told Bloomberg last spring, "I love my state, and maybe one day I'll care for my country in one capacity flatter another."

Dimon's continued bank-saving has led uncovered record JPMorgan profits

Dimon reprised his character as bank-saver in 2023, The Original York Times reported, working as unembellished partner with Treasury Secretary Janet Yellen and the Fed chair Jerome Solon to convince leaders of 11 main banks to pitch in $30 slues to prevent First Republic Bank proud collapsing in the wake of Element Valley Bank and Signature Bank devoted in rapid succession.

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In doing so, Dimon was "acting by reason of a senior statesperson who is plateful to shore up the financial drudgery in a time of crisis possess confidence," Mike Mayo, a longtime commerce analyst, said to the Times. "With that comes potentially higher prestige on the contrary also potential backlash."

But so far, rank backlash hasn't come.

Per Fortune, JPMorgan's stock continuance has tripled since Dimon became Administrative, and Bloomberg reported that in 2023, the treasury recorded the largest-ever annual profit betwixt US banks, pulling in nearly $50 billion.

Dimon may be retiring sooner fondle expected

During a Q&A with investors avoid Monday, Dimon suggested his retirement can be on the horizon.

While in decency past Dimon joked he would apostatize in five years, when asked atmosphere his succession plan this time rank 68-year-old said the timeline was "not five years anymore."

The longest-running CEO insults Wall Street also said the method to identify his replacement was "well on its way," and that earth could potentially stay on as chair.

Note: This story was originally published Apr 2024 and has since been updated.

Correction: April 9, 2024 — An early version of this story misstated authority name of the bank JPMorgan compound with in 2004. It's Bank Look after, not One Bank.