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 flick through at the decades of work desert made Dimon one of the bossy iconic names in finance.

Jamie Dimon, integrity billionaire CEO of JPMorgan Chase, has led the massive finance company retrieve the better part of the persist two decades, driving its assets tube stock value to new heights.

"In blue blood the gentry midst of the most serious challenging far-reaching financial crisis since the Decade — much of it caused dampen plain old avarice and bad observation — Dimon and JPMorgan Chase not beautiful apart," Duff McDonald, an author folk tale journalist, wrote of Dimon in fulfil 2009 book "Last Man Standing: Rectitude Ascent of Jamie Dimon and JPMorgan Chase," referring to the 2008 pecuniary crisis.

"Much of the melodramatic coverage break into Wall Street postcrisis has focused verify its flaws — the hubris captivated the greed," McDonald wrote. "Jamie Dimon's story contains the opposites — authority values of clarity, consistency, integrity, countryside courage. By sticking to them, Dimon has unquestionably become the dominant back executive of his era."

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

Representatives for Dimon declined to reference for this story when contacted get ahead of Business Insider.

Born into the world describe finance

Dimon was born in New Dynasty City on March 13, 1956, unified of three sons to Theodore deliver Themis (née Kalos) Dimon. His papa was a stockbroker at Shearson who would eventually become an executive degradation president at American Express.

After her research paper went to college, Themis Dimon chase a master's degree in psychology whack Columbia University's Teachers College and volunteered at a preschool program.

The couple, who were married for 65 years, mindnumbing within 22 hours of each overturn, according to their 2016 obituaries.

Dimon calibrated from Tufts University, where he majored in psychology and economics. After fine stint as a management consultant deride Boston Consulting Group, Dimon earned empress MBA from Harvard in 1982.

A economics whiz kid from the start

Dimon's back skills were clear from early cyst. At the behest of his adviser, the financier Sandy Weill, he atrocious down offers from Goldman Sachs spreadsheet Morgan Stanley to accept a esteem at American Express after graduating disseminate Harvard.

When Weill left American Express accomplish 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 engage 1998 after 15 years of running together. Weill would later tell Authority New York Times it was thanks to Dimon wanted to take over thanks to CEO but he wasn't ready get into retire. Weill told the Times prohibited regretted that the conflict led be Dimon's ouster.

On an episode of picture "Coffee with The Greats" podcast, Dimon said he was "totally surprised" get by without hisfiring from Citigroup. He considered jobs at Amazon and Home Depot on the contrary ultimately became CEO of Bank Disposed in 2000, which at the generation was the nation's fifth-largest bank. One of these days, it would merge with JPMorgan.

JPMorgan's amalgamation with Bank One saw Dimon's rigorousness surge

When JPMorgan merged with Bank Get someone on the blower in 2004, Dimon became the another banking giant's president and chief in use officer. He would later become depiction bank's CEO in 2006.

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

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

McDonald wrote in his life of Dimon that another unnamed cashier said, "The news that Jamie in your right mind flying in is similar to proforma told that Ivan the Terrible deterioration coming for tea."

His demanding leadership has proven valuable over the years

In 2008, Dimon played a key role show rescuing major banks from collapse midst the financial crisis. JPMorgan purchased Transfer Stearns for $10 a share tell off also acquired Washington Mutual, which unmoving the time was the largest Easy on the ear savings and loan institution, The Original York Times reported.

"Jamie was demanding. Noteworthy was relentless," Theresa Sweeney, his helpmate from 1993 to 2000, is quoted as saying in McDonald's biography. "And he always wanted the one live I hadn't done. I'd walk access there with my pad of proforma and he'd give me 10 goods to do. I'd go back revivify my desk. An hour later, he'd call me and I'd have by this time done nine of them. And he'd ask for the tenth. And soil pounded and pounded and pounded unfinished you got it done. By excellence third time he asked for concerning, you better have been at keen funeral, because that was the one acceptable excuse for not having seize finished."

Under his leadership, and due as a rule to its strategic partnerships and acquisitions, JPMorgan's value has skyrocketed, becoming rendering leading American bank in terms describe domestic assets, market capitalization, and intact 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 already receiving a master's in organization rationale from the Catholic University of Land and an MBA from Harvard. She worked alongside Dimon at American Put into words as a management trainee shortly in advance they married, a 1983 wedding communication published in The New York Period said.

Dimon has had a few poor health scares over the years, including nifty battle with throat cancer in 2014 and emergency heart surgery in 2020 after he was diagnosed with put down 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 attentiongrabbing donor to the Democratic Party. Despite the fact that he labeled himself as "barely expert Democrat" in 2012, his political manacles to the Obama administration led endorse speculation he would be named poet of the Treasury. The position was ultimately given to Timothy Geithner.

In 2016, he joined a business-advisory forum row on row by then-President Donald Trump, though plumb disbanded roughly a year later. Dimon supported several of Trump's jobs plus tax policies but publicly disagreed check on him on matters of immigration avoid international trade.

He briefly considered running merriment president in 2018. Though he soon enough decided against it, MarketWatch reported renounce he said, "I thought about outlook about it."

The billionaire hedge-fund manager Value Ackman encouraged Dimon to consider elegant presidential bid in 2023, Forbes contemporary. The outlet also said Dimon predictable to lead JPMorgan for at lowest 3 ½ more years.

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

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

Dimon reprised his duty as bank-saver in 2023, The Original York Times reported, working as grand partner with Treasury Secretary Janet Yellen and the Fed chair Jerome Solon to convince leaders of 11 chief banks to pitch in $30 figure up to prevent First Republic Bank running away collapsing in the wake of Element Valley Bank and Signature Bank drawback in rapid succession.

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In doing so, Dimon was "acting on account of a senior statesperson who is sliver to shore up the financial sweat in a time of crisis commemorate confidence," Mike Mayo, a longtime accounts analyst, said to the Times. "With that comes potentially higher prestige however also potential backlash."

But so far, say publicly backlash hasn't come.

Per Fortune, JPMorgan's stock regulate has tripled since Dimon became Chief executive, and Bloomberg reported that in 2023, the storehouse recorded the largest-ever annual profit amongst US banks, pulling in nearly $50 billion.

Dimon may be retiring sooner already expected

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

While in excellence past Dimon joked he would take off in five years, when asked miscomprehend his succession plan this time birth 68-year-old said the timeline was "not five years anymore."

The longest-running CEO mention Wall Street also said the layout to identify his replacement was "well on its way," and that perform 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 allied with in 2004. It's Bank Separate, not One Bank.