The American business executive who heads the largest of the four American banks is better known to the world as the chairman of JPMorgan Chase. James Dimon has also served on the Board of Directors of the Federal Reserve Bank of New York.
Dimon was born on 13th March 1956. Studying psychology and economics from Tufts University as his major subjects, he began working in a management consulting firm after graduation. He then enrolled at the Howard Business School and again graduated from there in 1982 as a Bakers Scholar. Later he joined American Express as an assistant. He quit this job in 1985 and went to work for the consumer finance company, Commercial Credit with Weill.
The duo formed the biggest financial services Citigroup in 1998. For a short span of time, Dimon was the chairman and co-CEO of Salomon Smith Barney Holdings, before the formation of the Citigroup. In 2000, he was made the CEO of Bank One which was later purchased b JPMorgan in 2004.
Dimon was named the Chief Executive Officer of JPMorgan Chase in 2005 and became the board chairman in 2006. When JPMorgan purchased Bank One, Dimon was appointed as the President and Chief Operating Officer of the combined company. He became the CEO of the year in 2011.
Back in 2009, he was considered as one of the Top Gun CEOs. He also provided his immense contribution after being the Chairman and the Executive Officer of the Business Council for 2011 and 2012. Due to Dimon’s talent, technical skills and leadership abilities, JPMorgan ranked as one of the leading US banks and also the #1 credit card provider in US.
Dimon was listed in the World’s 100 most influential people by Times magazine from 2006-2011. Today, JPMorgan Chase is not just a successful and powerful bank, but also at the zenith of other successful global companies. A rare combination of charisma and intelligence is in Dimon because of which, he has taken the company’s statistics to aspiring heights. The bank has made a profit of around $32 billion in 2018 and has been marked a highly challenged banking industry.
JPMorgan’s market capitalization is over $350 billion and its fortress balance sheet has helped the organization sustain the global financial crisis better than any other developed market bank. Today, the height at which JPMorgan Chase stands goes down all on Dimon. Showing such business approach was in his instincts right from an early age.
It is often said that being successful is difficult yet staying successful is even more challenging. However, James has instilled better ideas in his management team so that they are responsible for transmitting this message across the firm.
Today, something like 25% of USS investment banking revenues mostly across North America comes from those commercial banking clients that work for JP Morgan Chase. Dimon’s net worth is approximately $1.3 billion and he stands as one of the few bank Chief Exbecome a billionaire inecutives to such a short period of time.