Jamie Dimon is the chairman, president, and chief executive officer of JPMorgan Chase, a multinational bulge bracket financial institution and the largest bank in the United States. Dimon has become one of the most respected people on Wall Street, is rumored to be close personal friends with President Barrack Obama, and is credited with not only making JPMorgan Chase survive the financial crisis of 2007-1009 but also turning it into one of the largest and most profitable banks in the world. How did this man from Queens, New York become one of the most powerful and influential people in the financial world and how did he turn JPMorgan into the financial services conglomerate it is today?
Dimon grew up in Queens, New York to a line of stockbrokers. After being declined admissions to Brown University for undergraduate school, he enrolled in Tufts University studying psychology and economics. Upon receiving his bachelor’s degree, Dimon worked in management consulting for two years before attending Harvard Business School for his Masters of Business Administration. In 1982, Dimon finished his MBA and subsequently received full time offers
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He took the reins of JPMorgan Chase with this view of how to best run the financial services giant and quickly manifested it into the firm’s culture and the way he managed the business. Part of “doing the right thing”, to Dimon, is being direct and transparent. In the financial services world, this transparency is rare, but for a conglomerate like JPMorgan Chase, transparency was critically important in order for proper efficiencies and synergies between business units to be reached. This openness enabled collaboration between business units, and Dimon’s inability to tell anything but the blunt truth garnered him the respect and uncommon loyalty of his colleagues and