Jamie Dimon

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James Dimon (Template:IPAc-en Template:Respell; born March 13, 1956)<ref>Template:Cite news</ref> is an American businessman who has been the chairman and chief executive officer (CEO) of JPMorgan Chase since 2006.

Dimon began his career as a management consultant at Boston Consulting Group. After graduating from Harvard Business School in 1982, he joined American Express, working under the mentorship of Sandy Weill. In 1986, at age of 30, Dimon was appointed chief financial officer (CFO) of Commercial Credit and later became the firm's president. He was chief operating officer (COO) of both the insurer Travelers and the brokerage firm Smith Barney from 1990 to 1998, when he became president of Citigroup. In 2000, he was appointed CEO of Bank One, overseeing its operations until merger with JPMorgan Chase in 2004. Dimon then became COO of JPMorgan Chase, assuming the role of CEO in 2006.

He was on the board of directors of the Federal Reserve Bank of New York during the late 2010s.<ref>Template:Cite web</ref> Dimon was included in Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people.<ref>Template:Cite web</ref> As of October 2025, Forbes estimates his net worth at $2.8 billion.<ref>Template:Cite web</ref>

Early life

Dimon was born on March 13, 1956, in New York City. He grew up in the Jackson Heights neighborhood of Queens.<ref>Template:Cite book</ref><ref>Template:Cite web</ref> He is one of three sons of Theodore and Themis (née Kalos) Dimon, who had Greek ancestry.<ref name="politico">Template:Cite news</ref> His paternal grandfather was a Greek immigrant who had worked as a banker in Smyrna and Athens, and later changed the family name from Papademetriou to Dimon.<ref name="politico" /><ref>Template:Cite news</ref> Dimon has an older brother, Peter, and a fraternal twin brother, Ted. Both his father and grandfather were stockbrokers at Shearson.<ref>Langley, Monica. Tearing Down the Walls: How Sandy Weill Fought His Way to the Top of the Financial World ... and then Nearly Lost it All. Simon & Schuster, 2003, p. 50</ref>

Dimon attended secondary school at the Browning School, a private boys' prep school on the Upper East Side of Manhattan.<ref>Template:Cite web</ref> He then studied economics and psychology at Tufts University, graduating in 1978 with a Bachelor of Arts degree, summa cum laude. At Tufts, he wrote a paper on Shearson's mergers, which his mother sent to Sandy Weill, who then hired Dimon to work at Shearson during a summer break, doing budgets.<ref>Template:Cite web</ref>

After working as a management consultant at Boston Consulting Group from 1978 to 1980,<ref name=nyt95a>Template:Cite news</ref> Dimon enrolled at Harvard Business School. He worked at Goldman Sachs during the summer between his first and second years. Dimon graduated from Harvard in 1982 with an M.B.A. degree, and received Baker Scholar honors for graduating in the top 5% of his class.<ref name=nyf15a>Template:Cite web</ref>

Career

After receiving his M.B.A., Dimon was convinced by Sandy Weill to turn down offers from Goldman Sachs, Morgan Stanley, and Lehman Brothers to join Weill as an assistant at American Express.<ref name=langley03>Langley, Monica. Tearing Down the Walls: How Sandy Weill Fought His Way to the Top of the Financial World ... and then Nearly Lost it All. Simon & Schuster, 2003, p.74</ref> Although Weill could not offer the same amount of money as the investment banks, Weill promised Dimon that he would have "fun."<ref>Langley, 2003, p.74"</ref> Dimon's father, Theodore, was an executive vice president at American Express.<ref>Template:Cite news</ref>

Commercial Credit and transition into Citigroup

Sandy Weill left American Express in 1985, and Dimon followed him. The two then took over Commercial Credit, a consumer finance company, from Control Data. At age 30, Dimon was appointed chief financial officer,<ref>Template:Cite news</ref> helping turn around the company.

In 1998, through a series of mergers and acquisitions, Dimon and Weill formed a large financial services conglomerate: Citigroup. But Dimon left Citigroup in November 1998, after Weill asked him to resign during a weekend executive retreat.<ref>Template:Cite book</ref> Rumors at the time suggested that he and Weill had argued, in 1997, over Dimon's inaction to promote Weill's daughter, Jessica M. Bibliowicz,<ref>Template:Cite news</ref> although that happened more than a year before Dimon's departure. At least one other account cites, as the real reason, a request by Dimon to be treated as an equal.<ref>Template:Cite news</ref>

Bank One (2000–2004)

In March 2000, Dimon became CEO of Bank One, the United States' fifth largest bank.<ref name=khurana02>Rakesh Khurana, Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs (Princeton University Press, 2002)</ref>

J.P. Morgan (2004–present)

File:MacriDimon.jpg
Dimon with Argentina president Mauricio Macri, 2016

When JPMorgan Chase merged with Bank One in July 2004, Dimon became president and chief operating officer of the combined company. On December 31, 2005, he was named CEO of JPMorgan Chase, and on December 31, 2006, he was named chairman and president.<ref>Template:Cite web</ref> In March 2008, he was a Class A board member of the Federal Reserve Bank of New York. Under Dimon's leadership, with the acquisitions during his tenure, JPMorgan Chase has become the leading U.S. bank in domestic assets under management, market capitalization value and publicly traded stock value. In 2009, Dimon was considered one of "The TopGun CEOs" by Brendan Wood International, an advisory agency.<ref>Template:Cite web</ref><ref>[1] Template:Webarchive</ref>

On September 26, 2011, Dimon was involved in a high-profile heated exchange with Mark Carney, the governor of the Bank of Canada, in which Dimon said provisions of the Basel III international financial regulations discriminate against U.S. banks and are "anti-American."<ref>Template:Cite web</ref> On May 10, 2012, JPMorgan Chase initiated an emergency conference call to report a loss of at least $2 billion in trades that Dimon said were "designed to hedge the bank's overall credit risks." The strategy was, in Dimon's words, "flawed, complex, poorly reviewed, poorly executed and poorly monitored."<ref>Template:Cite web</ref> The episode was investigated by the Federal Reserve, the SEC and the FBI, and the central actor was labelled with the epithet the "London Whale."<ref>Template:Cite web</ref>

In May 2023, Jamie Dimon testified under oath in connection with two lawsuits filed against JPMorgan Chase.<ref>Template:Cite web</ref> The plaintiffs accused the bank of serving the late sex offender Jeffrey Epstein, who was a client between 1998 and 2013, despite internal warnings about his illegal behaviour; the bank itself described the claims as meritless.<ref>Template:Cite web</ref><ref>Template:Cite news</ref>

Dimon serves on the executive committee of The Business Council, an organization of global CEOs.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> He was chairman of the organization's executive committee during 2011 and 2012.<ref name="committee">Template:Cite web</ref> As of 2024, Dimon is also a board member of the Business Roundtable, previously serving as chairman of the organization.<ref>Template:Cite web</ref><ref>Template:Cite news</ref>

In October 2025, Dimon told the BBC that he saw an increased risk of a major U.S. market correction within the next six months to two years, described the United States as a less reliable global partner, and reaffirmed his confidence in the Federal Reserve's independence.<ref>Template:Cite web</ref>

Template:Off topic According to Good Jobs First's violation tracker, during Dimon's time heading JPMorgan Chase, the bank was fined $38 billion in total by the U.S. government, for legal and regulatory infractions.<ref>Template:Cite web</ref> In 2013, under Dimon, JPMorgan Chase reached a then-record $13 billion settlement ($11 billion of which was tax deductible) with the US government, which was the second largest (behind Bank of America's $16.65 billion settlement) in relation to the mis-selling of mortgage-backed securities in the years leading up to the 2007–2008 financial crisis.<ref>Template:Cite book</ref><ref>Template:Cite news</ref><ref>Template:Cite news</ref> The bank said, "Under Mr. Dimon's stewardship, the Company has fortified its control infrastructure and processes and strengthened each of its key businesses, while continuing to focus on strengthening the Company's leadership capabilities across all levels."<ref name="Touryalai">Template:Cite magazine</ref>

Dimon described the settlement as "unfair," and said he "had to control his rage" regarding the topic, with most of the government claims against his company being for dealings that took place at companies before JPMorgan Chase bought them, as a result of the financial crisis.<ref>Template:Cite web</ref> It is estimated that 70–80% of the dealmaking for the settlement was due to the outstanding legal exposures of Bear Stearns and Washington Mutual, which JPMorgan Chase had acquired at the encouragement of Treasury Secretary Hank Paulson, New York Fed President Timothy Geithner and other federal officials who helped broker the acquisitions, encouraged communication among the parties and even contributed financially to facilitate the transactions.<ref>Template:Cite news</ref>

Compensation

Dimon is one of the few bank chief executives to have become a billionaire, largely because of his stake in JPMorgan Chase.<ref>Template:Cite news</ref> He received a $23 million pay package for fiscal year 2011, more than any other bank CEO in the US.<ref>Template:Cite web</ref> However, his compensation was reduced to $11.5 million in 2012 by JPMorgan Chase following a series of controversial trading losses that amounted to $6 billion. On January 24, 2014, it was announced that Dimon would receive $20 million for his work in 2013; a year of record profits and stock price under Dimon's reign, despite significant losses that year due to scandals and payments of fines. The award was a 74% raise, which included over $18 million in restricted stock.<ref>Template:Cite web</ref>

Dimon received $34.5 million from JPMorgan Chase in fiscal year 2022, $36 million in fiscal year 2023, and $39 million in fiscal year 2024.<ref name="reutersjpmorganceopay">Template:Cite news</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Management style

Dimon carries everywhere a sheet of paper on which he writes lists of things to do, things to check up on, and things to remember, which he systematically crosses off.<ref>Template:Cite web</ref> He has said he uses the OODA loop method in scenario evaluation.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref name="auto">Template:Cite web</ref>

Political activity

File:The Global Financial Context James Dimon (cropped).jpg
Dimon in 2013

From 1989 to 2009, Dimon donated primarily to the Democratic Party.<ref>Weiner, Rachel (June 14, 2012). "Jamie Dimon, Democrat?" Template:Webarchive. The Washington Post.</ref> In May 2012, he described himself as "barely a Democrat."<ref name="Politico">Summers, Juana (May 13, 2012). [2]</ref> After Barack Obama won the 2008 presidential election, there was speculation that Dimon would become Secretary of the Treasury. Obama eventually named Timothy Geithner to the position.<ref>Template:Cite news</ref> Following the acquisition of Washington Mutual by JPMorgan Chase, Obama commented on Dimon's handling of the real-estate crash, credit crisis and the banking collapse affecting corporations nationwide, including major financial institutions like Bank of America, Citibank and Wachovia, and said he did "a pretty good job managing an enormous portfolio."<ref>Template:Cite web</ref>

Dimon has had close ties to some people in the Obama White House, including former Chief of Staff Rahm Emanuel.<ref>"In Washington, One Bank Chief Still Holds Sway" Template:Webarchive. The New York Times. July 18, 2009.</ref> Dimon was one of three CEOs—along with Goldman Sachs Chairman Lloyd Blankfein and Citigroup CEO Vikram Pandit—said by the Associated Press to have had liberal access to former Treasury Secretary Timothy Geithner.<ref>"Mr. Geithner Wall Street is on Line 1 (again)" . NBC News. Associated Press. October 8, 2009.</ref><ref>Template:Cite episode</ref> Nonetheless, Dimon has often publicly disagreed with some of Obama's policies.<ref>"How Obama and Dimon Drifted Apart" Template:Webarchive. The New York Times. June 17, 2010.</ref> During the 2016 United Kingdom European Union membership referendum, JPMorgan Chase, under Dimon's leadership donated large sums of money to the Remain campaign, and Dimon personally campaigned with Chancellor of the Exchequer George Osborne against Brexit.<ref>Tooze, Adam (2018). Crashed: How a Decade of Financial Crises Changed the World. New York, New York: Viking Press. p. 551. Template:ISBN. Template:OCLC.</ref>

In December 2016, Dimon joined a business forum assembled by then president-elect Donald Trump to provide strategic and policy advice on economic issues.<ref>Template:Cite web</ref> The forum dissolved after Trump's comments on the alt-right political violence at the 2017 Unite the Right rally.<ref>Template:Cite web</ref> During Trump's presidency, Dimon supported his Tax Cuts and Jobs Act of 2017, but condemned the Trump administration's immigration and trade policies.<ref>Template:Cite web</ref> In a 2019 interview with 60 Minutes, Dimon claimed that the United States "is the most prosperous economy the world has ever seen" despite acknowledging issues such as income inequality and the China–United States trade war.<ref name=":0">Template:Cite news</ref> Dimon also criticized the U.S. federal government response to the COVID-19 pandemic under Trump in a letter to shareholders which also criticized the state of education, health care and social safety nets in the United States.<ref>Template:Cite web</ref>

During the 2020 Democratic Party presidential primaries, Dimon criticized the lack of a "strong centrist, pro-business, pro-free enterprise" candidate. In 2018 Dimon "thought about thinking about" starting his own presidential campaign, but decided that it would be too unpopular to succeed.<ref name=":0" /><ref>Template:Cite web</ref> During the 2020 United States presidential election, Dimon wrote a memorandum calling for candidates to respect the democratic process and a peaceful transition of power, writing "While strong opinions and tremendous passion characterized this U.S. election, it is the responsibility of each of us to respect the democratic process, and ultimately, the outcome."<ref>Template:Cite web</ref> Dimon subsequently condemned the 2021 United States Capitol attack.<ref>Template:Cite web</ref> In 2021, Trump complained that Dimon was "not a patriot" because of his company's business in China.<ref>Template:Cite web</ref>

In May–June 2023, Dimon was encouraged by American billionaire and hedge fund manager Bill Ackman to run in the 2024 United States presidential election, after the former expressed his interest in pursuing a public office sometime in the future.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> Dimon clarified that he has no plans to run for office at this time, and that he is happy with his current leading position in JPMorgan Chase, where he expects to stay for three and a half more years.<ref>Template:Cite news</ref><ref>Template:Cite web</ref> However, in June 2025 Dimon said his retirement is still "several years away" and that he may stick around longer.<ref>Template:Cite web</ref>

In November 2023, Dimon said he preferred Nikki Haley over Donald Trump as the Republican nominee in the 2024 U.S. presidential election.<ref>Template:Cite magazine</ref> In August 2024, Dimon published an op-ed column in The Washington Post, where he stated that the next president must "restore our faith in America."<ref>Template:Cite news</ref> In the opinion piece, he endorsed neither Trump nor Democratic presidential nominee Kamala Harris.<ref>Template:Cite web</ref> However, in October 2024, The New York Times reported that Dimon was privately supporting Harris' 2024 campaign.<ref>Template:Cite web</ref>

File:Chancellor Rachel Reeves meets Jamie Dimon (54838700663).jpg
Dimon with UK Chancellor Rachel Reeves

After Donald Trump took office as president again in January 2025, Dimon said he supported Trump's tariff policies.<ref name=":1">Template:Cite news</ref> Dimon has previously said that the tariffs were a threat to the US economy.<ref name=":1" /> In March 2025, amid a worsening economic outlook due to Trump's tariff threats, Dimon said that tariffs contributed to uncertainty in the markets.<ref>Template:Cite web</ref>

In October 2025, Dimon said the ongoing US government shutdown was a "bad idea", but downplayed its implications for the economy.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

Personal life

In 1983, Dimon married Judith Kent, whom he met at Harvard Business School. They have three daughters: Julia, Laura, and Kara Leigh.<ref>Last Man Standing, p. 22</ref> Julia and Kara attended Duke University; Laura is a Barnard College graduate, a freelance journalist, formerly at the New York Daily News, and currently a producer for ABC News.<ref>Template:Cite magazine</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Dimon was diagnosed with throat cancer in 2014.<ref>Template:Cite news</ref> He received eight weeks of radiation and chemotherapy ending in September 2014.<ref>WSJ VOL. CCLXIV No. 62 p.. A1 "JP Morgan Chief Slows a Little to fight cancer</ref> In March 2020, at the age of 63, Dimon underwent emergency heart surgery. The reason for the surgery was to repair an acute aortic dissection.<ref>Template:Cite news</ref> According to JP Morgan, Dimon recovered well from surgery,<ref name="veconomist">Template:Cite news</ref><ref>Template:Cite web</ref> with Gordon Smith and Daniel Pinto running the bank until his return.<ref name="veconomist1">Template:Cite news</ref> In April 2020, it was announced that Dimon returned to work in a remote capacity due to the COVID-19 pandemic.<ref>Template:Cite news</ref>

Awards and honors

References

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