Jamie Dimon is the Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co. Dimon became Chairman of the Board, effective January 1, 2007, following his appointment as Chief Executive Officer on January 1, 2006. He also assumed the title of President upon the company’s merger with Bank One Corporation on July 1, 2004.
A month after the trading losses were first revealed, Mr. Dimon has yet to offer a thorough explanation for what happened. One of the big questions is whether the loser trades were really, as Mr. Dimon claims, hedges intended to protect against potential losses on other of the bank’s positions, or proprietary trades — speculative bets — placed for profit.
Jamie Dimon, the head of JPMorgan Chase, told the Senate Banking Committee on Wednesday that he had been “dead wrong” to dismiss early news reports of his bank’s reckless trading and that he was “sorry” for the resulting losses, variously estimated at $2 billion to $5 billion, and counting. He even ventured that too-big-to-fail banks have “negatives,” including “you know, greed, arrogance, hubris, lack of attention to detail.”
Later, when Dimon worked for a small firm in Boston called Management Advisory and Consulting, a partner assigned him a project to finish over the weekend. When the partner didn't show up to see Dimon's work on Monday morning, Dimon confronted him. Dimon told the partner his weekend had been ruined, adding, "And because of that, I will never work on another project for you again." Others at the company told Dimon he couldn't say such things. "Yes, I can," he responded. "And they can fire me if they want to."
It's been an intense couple of years for J.P. Morgan Chase CEO Jamie Dimon -- from the collapse of Wall Street to the industry's real estate foreclosure paperwork woes. Though it's fair to say his company survived the crisis better than any other financial services firm, things have changed forever for the head of the world's second-largest bank.
Mr. Dimon graduated from Tufts University in 1978 and received an MBA from Harvard Business School in 1982. He is a director of The College Fund/UNCF and serves on the Board of Directors of The Federal Reserve Bank of New York, The National Center on Addiction and Substance Abuse, Harvard Business School and Catalyst. He is also on the Board of Trustees of New York University School of Medicine. Mr. Dimon does not serve on the board of any publicly traded company other than JPMorgan Chase.
At the Browning School on Manhattan's Upper East Side, Dimon asserted himself against teachers constantly. In one striking anecdote, the only African American student in the class was asked to leave after misbehaving, prompting the teacher to say, "Six hundred thousand died to free the slaves, and this is the gratitude we get." Dimon took his things and walked out.
He had been President and Chief Operating Officer since JPMorgan Chase’s merger with Bank One Corporation in July 2004. At Bank One he had been Chairman and Chief Executive Officer since March 2000. Prior to joining Bank One, Mr. Dimon had experience at Citigroup Inc., the Travelers Group, Commercial Credit Company and American Express Company.
If that sounds impossibly cocky, Dimon, now 56, might note that Judith Kent did as she was bid and that they are still married. Tales of Dimon’s mouthy confidence are now legion. Regulators are infantile.
Here’s how Jamie Dimon met his wife. At a Harvard Business School party, a passing dress caught the eye of the Future Most Important Banker in the World. “I’m Jamie,” purred the FMIBW. “I’m going home and I want you to come with me.”
James "Jamie" Dimon (born March 13, 1956) is an American business executive. He is the current chairman, president and chief executive officer of JPMorgan Chase, one of the Big Four banks of the United States, and has served as a Class A director of the Board of Directors of the New York Federal Reserve since January 2007. Dimon was named to Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. He was also named to Institutional Investor's Best CEOs list in the All-America Executive Team Survey from 2008 through 2011. He was named the CEO of the Year in 2011.