Business
Soon after Dimon graduated from Harvard Business School in 1982, Sandy Weill convinced him to turn down offers from Goldman Sachs and Morgan Stanley to join him as an assistant at American Express. Though Weill could not offer the same amount of money as the investment banks, Weill promised Dimon that he would have "fun." In a power struggle, Weill left American Express in 1985, Dimon followed him, and the two took over Commercial Credit, a consumer finance company, from Control Data, which, a couple of tweaks and acquisitions later, became Citigroup in 1998.
Dimon left Citigroup in November 1998. In his 2002 and 2006 Kellogg School interviews, he stated that he was fired by Weill. In March 2000 he became CEO of Bank One, then the nation's fifth largest bank.
School
He majored in psychology and economics at Tufts University, before taking an MBA from Harvard.
Jamie left Citigroup in November 1998. The rumors are that Jamie and Sandy got into a large argument in 1997 over the perceived lack of promotion given by Jamie to Sandy's daughter Jessica M. Bibliowicz. And rumors are that a brawl (completely unrelated to Jessica) occurred with another employee (Deryck Maughan) during a dinner dance in 1998. Jamie was asked for resignation on Nov. 1., 1998, by co-CEOs John S. Reed and Sanford I. Weill. In March 2000 he became CEO of Bank One. Observers of the JP Morgan/Bank One merger feel that this is an attempt for Jamie to outdo Sandy, as the combined company will be just behind Citigroup in asset size. But of course the reality is that the newly combined JP Morgan Chase & Co. which includes the heritage Bank One line places third in asset size, behind Citigroup and Bank of America.
Quotes
October 4, 2002 - Kellogg School of Management
I went to work for Sandy, ..., to build something. The reason I went to work for Sandy was because I liked him, ..., and I like him because he was down to earth, no b.s., told it the way it was, he dealt with the secretaries and the drivers and the clerks the same way he dealt with anybody else, tremendous common sense. I also think that people make the big mistake, they think they have to fight their way to the top, I think a lot of people are pushed to the top, and they're pushed to the top by people who like them, trust them, respect them, and consider them leaders, I'm going to talk about it later because I think it's probably the most important thing.
Jun 1, 2005 - Sanford C. Bernstein Strategic Decisions Conference
By the middle of '07 we will have, pretty much, one loan system, one wire system, one deposit system, maybe two or three general ledgers. ... We'll have far bigger and more efficient data systems, storage centers etc. And your cost efficiency will be enormous, your ability to innovate will also be much better.
Jamie's early 2006 observation that Citigroup would make an attractive acquisition if a friendly board could be comprised, put major US banks on alert. Most observers take this comment to be a warning to Citigroup that the newly merged Bank One-JP Morgan Chase may attempt to acquire CitiGroup. The continued unionization attempts at the firm have been a considerable point of contention, with Dimon showing an unusually cooperative stance.
Conference calls
Conference calls with Mr. Dimon
Quarterly earnings
- Oct 20, 2004 - JPMorgan Chase 3Q 2004 Earnings () ()
- Jul 21, 2004 - JPMorgan Chase 2Q 2004 Earnings () ()
- Apr 21, 2004 - JPMorgan Chase 1Q 2004 Earnings and JPM / Bank One Merger Update () ()
- Apr 20, 2004 - Bank One 1Q 2004 Earnings ()
- Jan 20, 2004 - Bank One 4Q 2003 Earnings ()
- Oct 21, 2003 - Bank One 3Q 2003 Earnings ()
- Jul 16, 2003 - Bank One 2Q 2003 Earnings ()
- Apr 15, 2003 - Bank One 1Q 2003 Earnings ()
- Jan 16, 2003 - Bank One 4Q 2002 Earnings ()
- Oct 15, 2002 - Bank One 3Q 2002 Earnings () (home sick, but on the call)
Other
- Dec 03, 2003 - Bank One Presents at the Goldman Sachs 14th Annual Bank CEO Conference (
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