Jamie Dimon life and biography

Jamie Dimon picture, image, poster

Jamie Dimon biography

Date of birth : 1956-03-13
Date of death : -
Birthplace : New York City, New York, U.S.
Nationality : American
Category : Famous Figures
Last modified : 2011-11-05
Credited as : busness executive, Bank One, ceo of JPMorgan Chase & Co

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James Dimon is a business executive, named by some as Colossus of Wall Street . He is the current CEO and chairman of JPMorgan Chase & Co, and previously served as a Class A director of the Board of Directors of the New York Federal Reserve, a three year term which started January 2007.

In 2004, Jamie spend most of his career under the tutelage of Citigroup's Sandy Weill, finally emerged from the tycoon's shadow, doing so as a viable threat to his once revered mentor. The most interesting chapter of Dimon's life remained to be written after he resurrected the struggling midwestern Bank One by cutting costs and administering financial discipline. Effective June 15, 2004, JPMorgan Chase & Company acquired Bank One for about $58 billion in stock, forming the second-biggest U.S. bank, with loans and assets of $1.1 trillion. Dimon was expected to succeed the J. P. Morgan chair and CEO William Harrison in 2006.

By 2004 Bank One had become the sixth-largest U.S. bank, with assets of $320 billion. Its businesses, which spanned the United States and about a dozen other countries, comprised consumer, corporate, and institutional banking; lease financing; investment management; and brokerage, insurance, and consumer finance, including mortgages and student loans. The company had some 1,800 branches in 14 mostly midwestern and southeastern states. Bank One also managed the One Group mutual-fund family and was one of the largest issuers of credit cards in the world, with nearly 52 million cards in circulation and $74 billion in managed receivables. Early in 2004 the company bought most of the business of the U.S.-based Zurich Life from Zurich Financial Services.

Of the US's nine largest banks, JPMorgan Chase was arguably the second healthiest bank, and did not need to take TARP funds. In order to encourage smaller banks with troubled assets to accept this money, Treasury Secretary Henry Paulson allegedly coerced the CEOs of the nine largest banks to accept TARP money under short notice. JPMorgan Chase was also the first of the largest banks to repay the TARP money.

Dimon was named to Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. On top of that, Jamie was named the CEO of the Year in 2011.

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