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When Wall Streeters tell Jamie Dimon to get well soon, they mean it. We've received your submission. FORTUNE may receive compensation for some links to products and services on this website. Sorry, your blog cannot share posts by email. He often uses his platform as head of the country’s biggest bank to opine on issues that fall outside that scope, including immigration, education and healthcare.
JPMorgan Chase & Co CEO and Chairman Jamie Dimon is recovering from emergency heart surgery done on Thursday morning, with two deputies taking over as he recuperates, the largest U.S. bank said. https://fortune.com/.../jpmorgan-ceo-jamie-dimon-emergency-heart-surgery Your California Privacy Rights “This is a major operation,” Di Luozzo said. During his time at the helm of JPMorgan, Dimon has turned the bank into a global behemoth, with leading positions in many key businesses, through crisis-era acquisitions as well as opportunistic market-share grabs. Dimon’s withdrawal from public life comes as the COVID-19 pandemic has sparked fears that banks will stop lending to businesses — or that people won’t be able to withdraw funds from their own accounts if banks start closing en masse. March 25, 2020 | 5:38pm | Updated March 25, 2020 | 6:33pm. Here’s what data from betting sites suggests, Stimulus update: What to expect if the White House doesn’t meet Pelosi’s 48-hour deadline, Stimulus update: Pelosi says a deal could be near, but a vote may not come until after the election, CA Notice at Collection and Privacy Notice, http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries.
Dimon’s surgery was successful and bank executives said they expect him to return to work. “If Steve Mnuchin and Jay Powell need someone to talk to about what they should be doing, they should be asking the one guy who worked with Treasury and the Fed in ’08 and still has his job,” Mayo said. This story has been shared 6,150 times. Now, they’re the solution,” explained Mayo. Terms & Conditions. A JPMorgan spokesman said he is … Nevertheless, insiders also said it would be an exaggeration to say Dimon is “working from home.” Normal recovery time for Dimon’s procedure, in which a tear in his aorta was repaired, is three months. “Not having him at the helm of JPMorgan is a modest negative.”. Thanks for contacting us. 1,611, © 2020 NYP Holdings, Inc. All Rights Reserved He could, for example, tout JPMorgan — the nation’s largest lender — as financially strong and open for business no matter what, sources said. Sitemap Do Not Sell My Personal Information, Your California Privacy Rights As Washington rushes to prevent the coronavirus pandemic from becoming a bigger economic crisis than the 2008 mortgage meltdown, financial types are bemoaning the loss of their unofficial spokesman, JPMorgan’s straight-talking boss. Is James Gorman of Morgan Stanley the next king of Wall Street? One person familiar with COVID-19 crisis negotiations in DC tells The Post that Bank of America CEO Brian Moynihan has stepped up to fill Dimon’s role as the chief interlocutor between the banking sector and Capitol Hill, but admits no one has filled Dimon’s shoes when it comes to explaining financial complexities to the American people. After claiming in 2018 that he could beat Trump in an election because he’s “as tough as he is” and “smarter,” Dimon told 60 Minutes that the two have made amends. All rights reserved.
If treated in time, patients typically spend a week in hospital followed by several weeks recovery at home, he said. Dimon, 63, experienced a tear in his heart’s main artery, which was detected early and treated successfully, JPMorgan said, publicly releasing an internal memo. Dimon has been CEO of JPMorgan for over a decade, and is a larger-than-life figure on Wall Street. Your Ad Choices
All quotes delayed a minimum of 15 minutes. When Dimon was going through cancer treatment, he curtailed travel and made fewer public appearances, but eventually recovered and got back to work. The bank’s co-presidents and co-chief operating officers, Daniel Pinto and Gordon Smith, sent the message to all employees, and are running JPMorgan as Dimon recovers. “You need the gravitas of a Jamie Dimon right now,” said Wells Fargo senior banking analyst Mike Mayo, a noted Dimon “frenemy” who’s famous for grilling the CEO on earnings calls. Two other people often talked about as potential CEOs are Marianne Lake, who runs JPMorgan’s consumer business, as well as Chief Financial Officer Jennifer Piepszak. These are issues that Dimon — a regular presence on news programs like CNBC and Fox Business — could be knocking down on TV under different circumstances, sources said. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. With the coronavirus crisis growing darker every day, bankers, brokers and other Wall Street executives are growing increasingly anxious for the return of the industry’s liaison to Main Street and Capitol Hill. But when you have an emergency operation it can be as high as 20%.”. See here for a complete list of exchanges and delays.
“Jamie is the guy who can calm markets by going on TV and saying ‘Don’t worry about liquidity, the banks are fine and we’ll keep money flowing,’” said one bulge bracket banker. His most vulnerable time as CEO may have come after a trader known as “the London Whale” caused billions of dollars’ worth of losses from derivatives positions in 2012 that management overlooked. Then you need this portable touchscreen in your home workspace, Nordstrom price matches best-selling items from Net-a-Porter, Cole Haan takes up to 60 percent off sitewide for The Great Fall Sale, Be prepared for any emergency with this 20% off survival bag, Best haunted houses from New Orleans to NYC, Actress Nicki Clyne reveals 10-year relationship with Nxivm sex-cult leader.
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