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Here's a look at the life of Jamie Dimon, chairman and CEO of JPMorgan Chase & Co.
Birthdate: March 13, 1956
Place of birth: New York, New York
Birth name: James Dimon
Father: Theodore Dimon, stockbroker
Mother: Themis Dimon
Marriage: Judith “Judy” (Kent) Dimon (May 1983-present)
Children: Julia, Laura and Kara Leigh
Education: Tufts University, B.A. 1978; Harvard University, MBA, 1982
He has a twin brother, Theodore Dimon Jr., founder of the Dimon Institute in New York.
1982-1985 – Assistant to the President of American Express, Sandy Weill.
1996-1997 – President and CEO of Smith Barney.
1997-1998 – Co-Chairman and Co-CEO of Salomon Smith Barney Holdings.
1998 – President of the Citi group. Dimon is forced to leave the company after a fight with Weill.
2000-2004 – President and CEO of Bank One Corporation.
2004 – He becomes president and chief operating officer of JPMorgan Chase & Co. when it merges with Bank One Corporation.
December 31, 2005 – Assumes the title of CEO and Chairman of JPMorgan Chase & Co., effective January 1, 2006.
December 31, 2006 – Appointed chairman of the board of directors of JPMorgan Chase & Co., effective January 1, 2007.
2011 – He earned $23.1 million in compensation as chairman and CEO of JPMorgan Chase & Co., making him the bank's highest-paid CEO.
May 10, 2012 – In a conference call, he reveals that a trading portfolio that was designed to help JPMorgan Chase hedge its credit risk lost $2 billion and could lose $1 billion more.
May 15, 2012 – Apologizes to JPMorgan Chase shareholders at annual meeting. Shareholders approve Dimon's $23 million pay package, and preliminary results show only 40% support a proposal calling for the appointment of an independent chairman.
May 17, 2012 – The Senate Banking Committee announces that Dimon has been invited to appear before the committee in hearings looking at JP Morgan's trading losses from a regulatory angle.
June 13, 2012 – Dimon testifies before the Senate Banking, Housing and Urban Affairs Committee, telling senators that while he did not approve the trades that led to the multimillion-dollar loss, he was aware of them.
June 19, 2012 – Dimon testifies before the House Financial Services Committee and says he did not mislead shareholders.
July 13, 2012 – JPMorgan announces that the trading loss originally believed to be $2 billion is now approximately $5.8 billion. JPMorgan later reveals that the loss widened to $6.2 billion in the third quarter.
2012 – Due to London Whale's losses, Dimon's salary package is reduced to $11.5 million, down from $23.1 million the previous year.
January 23, 2013 – Dimon apologizes to shareholders stating that the “whale” trade that caused the loss of $6 billion was a “terrible mistake.”
May 21, 2013 – About 68% of JPMorgan Chase shareholders vote to keep Dimon as chairman and CEO at the annual meeting, but three risk committee directors receive a narrow majority of only 51% to 59% of the votes.
September 19, 2013 – JPMorgan Chase agrees to pay about $920 million in fines to U.S. and U.K. regulators to resolve charges related to the “London Whale” trading scandal.
November 19, 2013 – Officials announce that JPMorgan Chase has agreed to a $13 billion settlement to resolve several investigations into the bank's mortgage securities business. According to the Department of Justice, the settlement is “the largest settlement with a single entity in United States history.”
January 24, 2014 – Dimon gets a 74% pay raise for 2013, even though JPMorgan Chase & Co was forced to pay billions in fines and settlements last year. In a government filing, JPMorgan Chase says Dimon will receive $18.5 million in restricted stock that will vest over the next three years as his 2013 bonus. That's up from a $10 million bonus for 2012. His base salary of $1.5 million remains unchanged.
July 1, 2014 – Dimon releases a memo saying that he has been diagnosed with curable throat cancer. He will receive radiation and chemotherapy treatment over the next eight weeks at Memorial Sloan Kettering Hospital in New York, but will continue to work while receiving treatment.
February 11, 2016 – After JPMorgan Chase's stock price fell 25% from its all-time high over the summer, Dimon purchases $26.6 million in shares.
January 30, 2018 – He announces, along with Warren Buffett and Jeff Bezos, a plan to “find a more efficient and transparent way to deliver healthcare services” to address the rising cost of healthcare.
March 5, 2020 – In a letter to employees, shareholders and customers, JPMorgan Chase co-chief operating officers Gordon Smith and Daniel Pinto announce that Dimon is recovering after undergoing emergency heart surgery. Dimon required surgery after suffering an “acute aortic dissection,” a tear in the inner lining of the aorta blood vessel.
July 20, 2021 – According to a filing with the Securities and Exchange Commission, JPMorgan Chase is granting Dimon 1.5 million stock options to “continue to lead the company for a significant number of additional years.”
February 22, 2024 – Documents filed with the SEC show that Dimon has sold $150 million worth of JPMorgan Chase shares.
