JP Morgan Chase's Jamie Dimon shares two things that change when you become CEO: ‘Nobody to complain to and…'
CEO
Jamie Dimon
recently offered a blunt perspective on the realities of executive leadership, stating that once you become CEO, 'there is nobody to complain to,' and all decisions rest squarely on your shoulders. In an interview with The Economist, Dimon highlighted two key shifts that occur when an executive ascends to the top role. 'The first one is there is nobody to complain to,' he said. 'The second thing is... there is no tacit approval. It is your decision. It's just different. Heavy is the head that wears the crown.'
Dimon, 69, has led JPMorgan since 2006, making him one of the longest-serving and most influential CEOs in the banking industry. His career began after earning an MBA from Harvard Business School in 1982. He turned down offers from Goldman Sachs and Morgan Stanley to join his mentor, Sandy Weill, at American Express.
JP Morgan Chase CEO on his succession plans
At the company's annual investor day this week, CEO Jamie Dimon emphasized that the bank has built a 'very deep bench' of potential leaders. While confirming that the board is actively 'thinking about succession', Dimon stopped short of naming any specific candidates.
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Spacious 2, 3 & 4 BHK Homes at ₹88 L+* in Pune
Dosti Greenscapes
Learn More
Undo
The Android Show Recap! Personalisation, AI Everywhere & More!
"If I'm here for four more years and maybe two more or three, executive chair or chairman, that's a long time,' he remarked.
In a recent news, Dimon defended the company's return to office (
RTO
) mandate. In an interview with Bloomberg Television recently, Dimon said 'I think our employees will be happier over time' He further added 'And the younger people learn the right way, it is an apprenticeship system and you can't learn working from your basement.'
JPMorgan, like many major companies, has pushed for a return to office after the pandemic, requiring most employees to work from the office several days a week. Speaking at JPMorgan's annual Global Markets Conference in Paris, Dimon said '"I completely applaud your right to not want to go to the office every day. But you're not going to tell JPMorgan what to do."
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
8 hours ago
- Time of India
Canva begins share sale at $42 billion valuation: Report
Company employees are able to sell shares to both new and existing investors, including Fidelity Management & Research Company and JPMorgan's asset management division, Bloomberg said, citing a statement from Canva. Tired of too many ads? Remove Ads Australian graphic design platform Canva launched an employee stock sale valuing the company at $42 billion, Bloomberg News reported on could not immediately verify the report. Canva did not immediately respond to a request for employees are able to sell shares to both new and existing investors, including Fidelity Management & Research Company and JPMorgan's asset management division, Bloomberg said, citing a statement from Canva allows users to create posters, social media graphics, presentations, and more using presets, templates, and generative AI tools. It reached a peak valuation of $40 billion in late in 2013, Canva has more than 200 million monthly active users across 190 countries and reported an annualized revenue of $2.5 billion last year.
Time of India
8 hours ago
- Time of India
Canva begins share sale at $42 billion valuation in road to IPO
Synopsis Australian design software startup Canva has launched an employee stock sale. The company's valuation is now at $42 billion. This marks a significant increase. Investors like Fidelity and JPMorgan are participating. Canva is focusing on artificial intelligence. It aims to boost revenue and prepare for a potential IPO. Canva is competing with Adobe and Figma in the design space.
Economic Times
2 days ago
- Economic Times
Americans are hoarding cash, but not in banks - here's where savvy savers are stashing it
Synopsis Best savings accounts for high yield: Despite persistent inflation and stagnant traditional bank balances, US consumer spending remains robust. A shift towards higher-yield options like money market funds, CDs, and brokerage accounts is fueling this trend. Notably, lower-income households are leading the surge in cash reserves, contributing to sustained spending even amidst economic challenges. Best savings accounts for high yield: Even though US inflation remains at 2.7% and checking and savings account balances are shrinking, consumer spending in the US is still surprisingly strong, as per a report. So where is all the money coming from? ADVERTISEMENT New data from JPMorgan Chase's Household Finances Pulse may provide a clue. After analyzing information from 4.7 million households, the study found that while traditional bank balances have flatlined in 2025, total cash reserves, which include money market funds, brokerage accounts, and certificates of deposit (CDs) are growing at a steady pace of 3% to 5% per year, as per a Moneywise report. ALSO READ: As stock market nears a P/E ratio of 30 - should investors worry? The most notable gains are among lower-income households, according to the report. Those in the lowest income quartile saw their total cash reserves grow by about 5% to 6%, as per the Moneywise report. This shift toward higher-yield options may be one reason consumer spending hasn't slowed down, even after economic challenges, according to the report. Instead of leaving their money in checking or standard savings accounts, many households are shifting to financial tools that offer better returns, as per the Moneywise report. Here's a look at where they're moving their money:High-yield savings accounts (HYSAs): These work like traditional savings accounts but offer interest rates between 4% and 5% APY as of mid-2025, it is often available through online banks with lower overhead, reported Moneywise. ADVERTISEMENT ALSO READ: iPhone 13 still rules, but Samsung's new threat could shatter Apple's grip on the marketCertificates of deposit (CDs): CDs let savers lock in money for a set term in exchange for guaranteed interest, with rates varying by term but can exceed 4% for longer commitments, as per the report. Money market accounts (MMAs): These accounts combine features of savings and limited checking, and they offer FDIC insurance and competitive rates, though usually slightly lower than HYSAs, according to Moneywise. ADVERTISEMENT Money market funds (MMFs): These are investment products rather than bank accounts, and even though they're not FDIC-insured but are considered relatively stable and invest in short-term, low-risk securities, as reported by accounts: These allow investors to put money into stocks, mutual funds, and ETFs, but are more volatile and have higher potential returns over the long term, according to the report. ADVERTISEMENT Retirement accounts (401(k)s, IRAs): Contributions to retirement accounts are also rising, showing that many households are still focused on their long-term financial future, as per the Moneywise saving the most right now?Surprisingly, lower-income households are seeing the fastest growth in savings, with a 5% to 6% increase in total cash reserves. ADVERTISEMENT Why are people still spending a lot even though their bank accounts aren't growing?Because many are moving their money into different types of accounts that earn better interest or returns, so their cash reserves are actually growing even if checking and savings balances look flat, as per the Moneywise report. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. NEXT STORY
