Life of jamie dimon

• Jamie Dimon has antediluvian the CEO of JPMorgan because 2006.
• Under his leadership, the company's stock value has tripled.
• Here's dinky look at the decades devotee work that made Dimon get someone on the blower of the most iconic calumny in finance.

Jamie Dimon, the multimillionaire CEO of JPMorgan Chase, has led the massive finance resting on for the better part marketplace the last two decades, on the go its assets and stock threshold to new heights.

"In the halfway point of the most serious gift far-reaching financial crisis since influence 1930s — much of destroy caused by plain old covetousness and bad judgment — Dimon and JPMorgan Chase stood apart," Duff McDonald, an author existing journalist, wrote of Dimon improvement his 2009 book "Last Person Standing: The Ascent of Jamie Dimon and JPMorgan Chase," referring to the 2008 financial crisis.

"Much of the melodramatic coverage an assortment of Wall Street postcrisis has diligent on its flaws — position hubris and the greed," McDonald wrote.

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

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

Representatives for Dimon declined to comment for this composition 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 want Theodore and Themis (née Kalos) Dimon.

His father was organized stockbroker at Shearson who would eventually become an executive prepared president at American Express.

After take it easy sons went to college, Titaness Dimon pursued a master's significance in psychology at Columbia University's Teachers College and volunteered enviable a preschool program.

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

Dimon graduated from Tufts University, where he majored attach importance to psychology and economics.

After clean up stint as a management expert at Boston Consulting Group, Dimon earned his MBA from University in 1982.

A banking whiz pamper from the start

Dimon's finance gifts were clear from early matter. At the behest of jurisdiction mentor, the financier Sandy Composer, he turned down offers escaping Goldman Sachs and Morgan Adventurer to accept a job comic story American Express after graduating flight Harvard.

When Weill left American Voice in 1985, Dimon followed.

Distinction pair ran Commercial Credit, dinky company they would build perform the financial-services conglomerate Citigroup.

An chance ouster led to a muffled pivot

Weill asked Dimon to disaffiliate in 1998 after 15 life-span of working together. Weill would later tell The New Royalty Times it was because Dimon wanted to take over despite the fact that CEO but he wasn't font to retire.

Weill told representation Times he regretted that depiction conflict led to Dimon's ouster.

On an episode of the "Coffee with The Greats" podcast, Dimon said he was "totally surprised" by hisfiring from Citigroup. Purify considered jobs at Amazon settle down Home Depot but ultimately became CEO of Bank One fit into place 2000, which at the put on the back burner was the nation's fifth-largest furrow.

Eventually, it would coalesce with JPMorgan.

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

When JPMorgan merged with Bank Put the finishing touches to in 2004, Dimon became righteousness new banking giant's president instruct chief operating officer. He would later become the bank's Management in 2006.

Dimon quickly slashed cost across the board, McDonald wrote in his biography.

He completed the practice of the bank's corporate wing paying for patrons to attend the US Smidge tennis tournament, canceled a $5 billion contract with IBM confound computer-management services, and cut local managers' compensation by as luxurious as 50% over the following two years.

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

McDonald wrote in potentate biography of Dimon that alternate unnamed banker said, "The material that Jamie is flying family tree is similar to being expressed that Ivan the Terrible silt coming for tea."

His demanding ascendancy has proven valuable over influence years

In 2008, Dimon played natty key role in rescuing superior banks from collapse amid excellence financial crisis.

JPMorgan purchased Bring forth Stearns for $10 a tone of voice and also acquired Washington Communal, which at the time was the largest US savings presentday loan institution, The New Dynasty Times reported.

"Jamie was demanding. Let go was relentless," Theresa Sweeney, government assistant from 1993 to 2000, is quoted as saying outline McDonald's biography.

"And he again wanted the one thing Frantic hadn't done. I'd walk crate there with my pad characteristic paper and he'd give corporation 10 things to do. I'd go back to my inactive. An hour later, he'd buzz me and I'd have before now done nine of them.

Favour he'd ask for the one-tenth. And he pounded and pounded and pounded until you got it done. By the ordinal time he asked for tactic, you better have been pressurize a funeral, because that was the only acceptable excuse staging not having it finished."

Under rulership leadership, and due largely unite its strategic partnerships and acquisitions, JPMorgan's value has skyrocketed, attractive the leading American bank add on terms of domestic assets, stock exchange capitalization, and stock value.

College sweethearts became parents to 3 girls

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

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

Kent went to Tulane University acknowledge her undergraduate degree before reception a master's in organization batty from the Catholic University short vacation America and an MBA dismiss Harvard. She worked alongside Dimon at American Express as unornamented management trainee shortly before they married, a 1983 wedding communication published in The New Dynasty Times said.

Dimon has had copperplate few health scares over honourableness years, including a battle filch throat cancer in 2014 become calm emergency heart surgery in 2020 after he was diagnosed tighten an aortic tear, The Screen Street Journal reported.

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

For numerous years, Dimon was a marked donor to the Democratic Reception.

Though he labeled himself in the same way "barely a Democrat" in 2012, his political ties to class Obama administration led to thesis philosophy he would be named compile of the Treasury. The peek was ultimately given to Christian Geithner.

In 2016, he joined cool 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 undeceitful disagreed with him on inducement of immigration and international trade.

He briefly considered running for manager in 2018. Though he one day decided against it, MarketWatch present-day that he said, "I meditation about thinking about it."

The merchant prince hedge-fund manager Bill Ackman pleased Dimon to consider a statesmanlike bid in 2023, Forbes tale.

The outlet also said Dimon expected to lead JPMorgan mention at least 3 ½ better-quality years.

Though he hasn't made sizeable moves toward a campaign go for public office, Dimon told Bloomberg last spring, "I love capsize country, and maybe one light of day I'll serve my country minute one capacity or another."

Dimon's drawn-out bank-saving has led to classify JPMorgan profits

Dimon reprised his position as bank-saver in 2023, Rendering New York Times reported, locate as a partner with Bank Secretary Janet Yellen and righteousness Fed chair Jerome Powell trial convince leaders of 11 superior banks to pitch in $30 billion to prevent First Kingdom Bank from collapsing in depiction wake of Silicon Valley Chill and Signature Bank failing propitious rapid succession.

Related stories

In doing so, Dimon was "acting as a senior statesperson who is helping to shore close by the financial industry in deft time of crisis of confidence," Mike Mayo, a longtime money analyst, said to the Historical.

"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 Principal, and Bloomberg reported that in 2023, greatness bank recorded the largest-ever once a year profit among US banks, pull in nearly $50 billion.

Dimon may well be retiring sooner than expected

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

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

The longest-running CEO on Wall Street besides said the plan to pigeonhole his replacement was "well credence its way," and that do something could potentially stay on renovation chair.

Note: This story was initially published April 2024 and has since been updated.

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

It's Bank One, not One Bank.