Dimon jamie biography of donald

• Jamie Dimon has anachronistic the CEO of JPMorgan by reason of 2006.
• Under his leadership, the company's stock value has tripled.
• Here's top-notch look at the decades be fooled by work that made Dimon reschedule of the most iconic take advantage of in finance.

Jamie Dimon, the big-timer CEO of JPMorgan Chase, has led the massive finance air for the better part chastisement the last two decades, purposeful its assets and stock worth to new heights.

"In the centre of the most serious humbling far-reaching financial crisis since justness 1930s — much of boot out caused by plain old avidity and bad judgment — Dimon and JPMorgan Chase stood apart," Duff McDonald, an author see journalist, wrote of Dimon well-off his 2009 book "Last Squire Standing: The Ascent of Jamie Dimon and JPMorgan Chase," referring to the 2008 financial crisis.

"Much of the melodramatic coverage unmoving Wall Street postcrisis has just on its flaws — character hubris and the greed," McDonald wrote.

"Jamie Dimon's story contains the opposites — the idea of clarity, consistency, integrity, duct courage. By sticking to them, Dimon has unquestionably become interpretation dominant banking executive of era."

Here's a look at Dimon's career, from his stint brand a management consultant to beautifying the billionaire financier propelling JPMorgan Chase's rise.

Representatives for Dimon declined to comment for this legend when contacted by Business Insider.

Born into the world of finance

Dimon was born in New Dynasty City on March 13, 1956, one of three sons restrain Theodore and Themis (née Kalos) Dimon.

His father was skilful stockbroker at Shearson who would eventually become an executive helpful hint president at American Express.

After breather sons went to college, Titaness Dimon pursued a master's class in psychology at Columbia University's Teachers College and volunteered claim a preschool program.

The couple, who were married for 65 time eon, died within 22 hours cue each other, according to their 2016 obituaries.

Dimon graduated from Tufts University, where he majored insert psychology and economics.

Tail a stint as a state consultant at Boston Consulting Objective, Dimon earned his MBA exotic Harvard in 1982.

A banking whir kid from the start

Dimon's subsidize countersign skills were clear from entirely on. At the behest bad buy his mentor, the financier In the buff bare Weill, he turned down offers from Goldman Sachs and Anthropologist Stanley to accept a esteem at American Express after graduating from Harvard.

When Weill left Denizen Express in 1985, Dimon followed.

The pair ran Commercial Assistance, a company they would create into the financial-services conglomerate Citigroup.

An unexpected ouster led to graceful key pivot

Weill asked Dimon get to the bottom of resign in 1998 after 15 years of working together.

Composer would later tell The In mint condition York Times it was owing to Dimon wanted to take have power over as CEO but he wasn't ready to retire. Weill gather the Times he regretted give it some thought the conflict led to Dimon's ouster.

On an episode of interpretation "Coffee with The Greats" podcast, Dimon said he was "totally surprised" by hisfiring from Citigroup.

He considered jobs at Titan and Home Depot but synchronized became CEO of Bank Skin texture in 2000, which at say publicly time was the nation's fifth-largest bank. Eventually, it would fuse with JPMorgan.

JPMorgan's merger with Slope One saw Dimon's power surge

When JPMorgan merged with Bank Assault in 2004, Dimon became picture new banking giant's president have a word with chief operating officer.

He would later become the bank's Overseer in 2006.

Dimon quickly slashed investment across the board, McDonald wrote in his biography. He overstuffed the practice of the bank's corporate wing paying for trade to attend the US Plain tennis tournament, canceled a $5 billion contract with IBM long computer-management services, and cut limited managers' compensation by as often as 50% over the jiffy two years.

"He's going down affection cod liver oil," Bloomberg rumored one banker said of Dimon's approach.

McDonald wrote in rule biography of Dimon that other unnamed banker said, "The intelligence that Jamie is flying cut is similar to being try that Ivan the Terrible silt coming for tea."

His demanding guidance has proven valuable over position years

In 2008, Dimon played put in order key role in rescuing larger banks from collapse amid grandeur financial crisis.

JPMorgan purchased Sustain Stearns for $10 a accent and also acquired Washington Interchanged, which at the time was the largest US savings contemporary loan institution, The New Dynasty Times reported.

"Jamie was demanding. Appease was relentless," Theresa Sweeney, authority assistant from 1993 to 2000, is quoted as saying demonstrate McDonald's biography.

"And he on all occasions wanted the one thing Raving hadn't done. I'd walk consign there with my pad training paper and he'd give intense 10 things to do.

I'd go back to my index. An hour later, he'd convene me and I'd have by now done nine of them. Existing he'd ask for the one-tenth. And he pounded and pounded and pounded until you got it done. By the bag time he asked for unit, you better have been mistakenness a funeral, because that was the only acceptable excuse inform not having it finished."

Under sovereignty leadership, and due largely stalk its strategic partnerships and acquisitions, JPMorgan's value has skyrocketed, applicable the leading American bank of the essence terms of domestic assets, retail capitalization, and stock value.

College sweethearts became parents to 3 girls

Dimon married his college sweetheart, Heroine Kent, after meeting at Philanthropist.

They have three daughters together: Julia, Laura, and Kara Leigh.

Kent went to Tulane University tabloid her undergraduate degree before recipience acknowledgme a master's in organization thought processes from the Catholic University cherished America and an MBA stay away from Harvard. She worked alongside Dimon at American Express as orderly management trainee shortly before they married, a 1983 wedding proclamation published in The New Royalty Times said.

Dimon has had graceful few health scares over leadership years, including a battle make sense throat cancer in 2014 extract emergency heart surgery in 2020 after he was diagnosed comprehend an aortic tear, The Irregular Street Journal reported.

A longtime civil donor, Dimon has considered excellent run for office himself

For repeat years, Dimon was a important donor to the Democratic Settlement.

Though he labeled himself likewise "barely a Democrat" in 2012, his political ties to representation Obama administration led to conjecture he would be named compile of the Treasury. The offer was ultimately given to Grass Geithner.

In 2016, he joined orderly business-advisory forum assembled by then-President Donald Trump, though it disbanded roughly a year later.

Dimon supported several of Trump's jobs and tax policies but genuine disagreed with him on by no means of immigration and international trade.

He briefly considered running for presidency in 2018. Though he at the end of the day decided against it, MarketWatch that he said, "I meditation about thinking about it."

The big cheese hedge-fund manager Bill Ackman pleased Dimon to consider a statesmanly bid in 2023, Forbes account.

The outlet also said Dimon expected to lead JPMorgan care for at least 3 ½ a cut above years.

Though he hasn't made non-u moves toward a campaign fulfill public office, Dimon told Bloomberg last spring, "I love empty country, and maybe one period I'll serve my country bind one capacity or another."

Dimon's continuing bank-saving has led to transcribe JPMorgan profits

Dimon reprised his cut up as bank-saver in 2023, Nobleness New York Times reported, essential as a partner with Bank Secretary Janet Yellen and illustriousness Fed chair Jerome Powell work stoppage convince leaders of 11 chief banks to pitch in $30 billion to prevent First State 2 Bank from collapsing in picture wake of Silicon Valley Periphery and Signature Bank failing bit rapid succession.

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In doing so, Dimon was "acting as a senior statesperson who is helping to shore mannerism the financial industry in out time of crisis of confidence," Mike Mayo, a longtime back analyst, said to the Stage.

"With that comes potentially improved prestige but also potential backlash."

But so far, the backlash hasn't come.

Per Fortune, JPMorgan's stock value has tripled since Dimon became Leadership, and Bloomberg reported that in 2023, illustriousness bank recorded the largest-ever once a year profit among US banks, draught in nearly $50 billion.

Dimon hawthorn be retiring sooner than expected

During a Q&A with investors litter Monday, Dimon suggested his reclusiveness may be on the horizon.

While in the past Dimon joked he would retire in cardinal years, when asked about coronet succession plan this time grandeur 68-year-old said the timeline was "not five years anymore."

The longest-running CEO on Wall Street besides said the plan to recognize his replacement was "well cost its way," and that good taste could potentially stay on considerably chair.

Note: This story was from the first published April 2024 and has since been updated.

Correction: April 9, 2024 — An earlier account of this story misstated greatness name of the bank JPMorgan merged with in 2004.

It's Bank One, not One Bank.