Jamie Dimon is the current CEO and chairman of JPMorgan Chase & Co. Born in New York City, the son of a stockbroker, He majored in psychology and economics at Tufts University, before earning an M.B.A. at Harvard University.
Dimon became a protégé of Citigroup's Sanford “Sandy” Weill. Their relationship started when Dimon, at his teens, interned at brokerage house Shearson which Weill was the Chairman. Dimon remained close to Weill throughout the years via family connections. In 1998 Dimon and Weill were able to form the largest financial services conglomerate the world had ever seen, Citigroup.
After his relationship with Weill soured, Dimon reinvented himself in Chicago through the undergoing situation of BankOne’s financial distress. Dimon joined BankOne as its CEO in March 2000, several corporate issues being solved i.e. slashing expenses, reorganizing management, recruiting talent from his former employers, and writing off bad loans by the billions, did the immense improvement on BankOne turned out the huge pay-off later. In June, BankOne reported more than $708 million in its quarter profit, compared to its $1 billion in losses a year ago.
Dimon became President of JPMorganChase in mid-2004 when it purchased BankOne. JPMorganChase has now become the leading U.S. bank in terms of domestic assets, market capitalization value, and publicly traded stock value. JPMorganChase is also the #1 credit card provider in the United States.
In March 2008, he was a board member of the New York Federal Reserve Bank and made decisions in connection with the $55 billion loan to JPMorganChase to bail out Bear Stearns. Robert Bruner, author of The Panic of 1907, says J. Pierpont Morgan saved Wall Street's banks during a crisis similar to the one Dimon addressed a century later.
