James Dimon | Investment banker

  • 05 February, 2023
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James Dimon (born March 13, 1956) is an American billionaire businessman and banker who has been the chairman and chief executive officer of JPMorgan Chase since 2005. Dimon was previously on the board of directors of the Federal Reserve Bank of New York. Dimon was included in Time magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. Dimon's net worth is estimated at $1.8 billion.

Dimon is one of the few bank chief executives to become a billionaire, largely because of his US$485 million stake in JPMorgan Chase.  He received a $23 million pay package for fiscal year 2011, more than any other bank CEO in the US.  However, his compensation was reduced to $11.5 million in 2012 by JPMorgan Chase following a series of controversial trading losses amounting to $6 billion. Dimon received $29.5 million in fiscal year 2017.







Early life and education

Jamie Dimon was born in New York City. He is one of three sons of Theodore and Themis (née Kalos) Dimon, who had Greek ancestry.  His paternal grandfather was a Greek immigrant who worked as a banker in Izmir and Athens, and changed the family name from Papademetriou to Dimon; reportedly it was either because as he was trying to find work as a busboy he realized people didn't want to hire Greeks, or because he had fallen in love with a French girl and wanted his name to sound French. Dimon has an older brother, Peter, and a fraternal twin brother, Ted. Both his father and grandfather were stockbrokers at Shearson.

He attended the Browning School, and majored in psychology and economics at Tufts University, where he graduated summa cum laude. At Tufts, Dimon wrote an essay on Shearson's mergers; his mother sent the paper to Sandy Weill, who hired Dimon to work at Shearson during one summer break, doing budgets.

After graduating, he worked in management consulting at Boston Consulting Group  for two years before enrolling at Harvard Business School, along with classmates Jeff Immelt, Steve Burke, Stephen Mandel, and Seth Klarman. During the summer at Harvard, he worked at Goldman Sachs. He graduated in 1982, earning an MBA as a Baker Scholar.

After graduation from Harvard Business School, Sandy Weill convinced him to turn down offers from Goldman Sachs, Morgan Stanley, and Lehman Brothers to join him as an assistant at American Express.  Although Weill could not offer the same amount of money as the investment banks, he promised Dimon that he would have "fun". Dimon's father, Theodore Dimon, was an executive vice president at American Express.