Jamie Dimon

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James "Jamie" L. Dimon (born March 13, 1956) is the current CEO and chairman of JPMorgan Chase & Co..

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[edit] History

Jamie Dimon was born in New York. His grandfather, a Greek immigrant from Smyrna, was a broker and passed on his knowledge of the business to his son and partner, Theodore. They worked together for 19 years, and Jamie held summer jobs at their New York office.[citations needed]

As a boy, Jamie Dimon attended The Browning School, a prestigious all boys prep-school on the upper east side. Later, he majored in biology and economics at Tufts University, before earning an Master of Business Administration degree from Harvard Business School. Upon his graduation in 1982, Sandy Weill convinced him to turn down offers from Goldman Sachs and Morgan Stanley to join him as an assistant at American Express. Though Weill could not offer the same amount of money as the investment banks, Weill promised Dimon that he would have "fun." In a power struggle, Weill left American Express in 1985, Dimon followed him, and the two took over Commercial Credit, a consumer finance company, from Control Data, which became the vehicle that Dimon and Weill would use to propel themselves to the top of the financial world. Through a series of unprecedented mergers and acquisitions, in 1998 Dimon and Weill were able to form the largest financial services conglomerate the world had ever seen, Citigroup. Although Weill was the one who made the deals, Dimon was the "whiz kid" who made the numbers work.[citations needed]

Dimon left Citigroup in November 1998. It was rumored at the time that he and Weill got into an argument in 1997 over the perceived lack of promotion given by Dimon to Weill's daughter, Jessica M. Bibliowicz.[1] In his 2005 University of Chicago Graduate School of Business Fireside Chat and 2006 Kellogg School interviews, Dimon stated that he was fired by Weill.

In March 2000 Dimon became CEO of Bank One, then the nation's fifth largest bank.[2] He became president of J.P. Morgan Chase in mid-2004 when it acquired Bank One.

Dimon was named to Time Magazine's 2006 list of the world's 100 most influential people.

He is married to Judith Kent. They have three children, Julia, Laura, and Kara Leigh.

[edit] Quotes

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  • June 1, 2005 - Sanford C. Bernstein Strategic Decisions Conference

By the middle of '07 we will have, pretty much, one loan system, one wire system, one deposit system, maybe two or three general ledgers. ... We'll have far bigger and more efficient data systems, storage centers etc. And your cost efficiency will be enormous, your ability to innovate will also be much better.[who?]

We have more programmers than Microsoft... from arbitrage to CDO pricing to even automated bank statements- in-house development drives everything we do. Could we build something like Microsoft Windows? Well, for the one-third of the features we absolutely need, I think the answer is yes.[who?]

[edit] References

  1. ^ Nathans Spiro, Leah. "Too crowded under Traveler's umbrella?", BusinessWeek, 30 June 1997. 
  2. ^ Rakesh Khurana, Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs (Princeton University Press, 2002)

[edit] External links

v • d • e
JPMorgan Chase
Divisions
Notable current executives:
Jamie Dimon (CEO) • Steven Black • Jing Ulrich
Notable former executives:
Corporate Directors:
Crandall C. Bowles • Stephen B. Burke • David M. Cote • James S. Crown • Jamie Dimon • Ellen V. Futter • William H. Gray, III • Laban P. Jackson, Jr. • Robert I. Lipp • David C. Novak • Lee R. Raymond • William C. Weldon
Historical components:
Buildings:
Annual revenue: USD Employees: 174,360 (2007) Stock Symbol: NYSE: JPM Website: www.jpmorganchase.com
v • d • e
Citigroup
Brands:
Banamex • Citibank • Citicapital • CitiFinancial • Citigold • Citi Private Bank • Citigroup Venture Capital • Diners Club • Egg • Primerica • Salomon Brothers • Smith Barney • Quilter
Key people:
Notable former executives:
Corporate Directors:
Local entities:
Australia • Canada • China • Hong Kong • Japan • Malaysia • Mexico • Singapore • Taiwan • Thailand
Annual revenue: $146.7 billion USD · Employees: 332,000 · Stock Symbol: NYSE: C and TYO: Citi
 · Website: www.citigroup.com · Headquarters: 399 Park Avenue, New York City, New York 10043, United States
Languages