James "Jamie" Dimon

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Jamie Dimon
James dimon.jpg
Occupation CEO and Chairman
Employer JPMorgan Chase & Co.

Jamie Dimon became chairman of the board at JPMorgan Chase & Co. on Dec. 31, 2006, and has been chief executive officer and president of JPMorgan Chase since Dec. 31, 2005. He had been president and chief operating officer since JPMorgan Chase ’s merger with Bank One Corporation in July 2004.[1]

Dimon serves on the board of directors of The Federal Reserve Bank of New York, The National Center on Addiction and Substance Abuse, Catalyst and Harvard Business School and is on the board of trustees of New York University School of Medicine. He also serves as chairman and director at The Clearing House LLC, is vice chairman of The Business Council and a director of Yum! Brands Inc. He serves as a director of College Fund/UNCF and serves on the board of directors of the University of Chicago.[2]

Michael Bloomberg noted in an article in "The 2008 Time 100" that Dimon has experienced "as many spectacular reversals of fortune as any Shakespearean hero." Ten years ago, he was expected to be crowned head Citigroup as it merged with the Travelers Group. Instead, he was pushed aside. But he returned in triumph when he sold Chicago's Bank One to JPMorgan Chase and quickly ascended to head the House of Morgan himself. Furthermore, after three days of negotiations involving the U.S. Treasury and the Federal Reserve Bank, JPMorgan Chase bought investment firm Bear Stearns, fending off a complete financial market meltdown.[3]

Under Dimon's leadership, J.P. Morgan mostly exited the business of securitizing subprime mortgages when it was still booming, shunning instruments such as SIVs (structured investment vehicles) and CDOs (collateralized debt obligations).[4]

Dimon has a reputation for being outspoken. On 2004 a third-quarter earnings call with then-CEO William Harrison by his side, Dimon said, “These are terrible results. We don’t feel good about it.”[5]

Dimon was named "Banker of the Year" in 2009 by American Banker.[6]

The New York Times also named Dimon "America's least hated banker" at the end of the 2010. [7]

Background

At Bank One Dimon had been chairman and chief executive officer since March of 2000. Prior to Bank One, he had held various senior executive positions at Citigroup Inc., its subsidiary, Salomon Smith Barney, and its predecessor company, Travelers Group, Inc.

Education

He is a graduate of Tufts University and received an MBA from Harvard Business School.

References

  1. James Dimon. JPMorgan Chase.
  2. Executive Profile - James Dimon. BusinessWeek.
  3. The 2008 TIME 100. Time.
  4. Jamie Dimon's Swat Team - How J.P. Morgan's CEO And His Crew Are Helping The Big Bank Beat The Credit Crunch. Money CNN.
  5. Jamie Dimon’s Greatest Hits. The Wall Street Journal.
  6. Banker of the Year. American Banker.
  7. Jamie Dimon: America's Least Hated Banker. New York Times.
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