When you meet with JPMorgan Chase CEO Jamie Dimon, anticipate that he’ll have gone via all of the pre-reading and can commit 100% of his consideration to the subject at hand. However no matter you do, don’t take a look at your system in entrance of him.
“None of this nodding off,” stated Dimon, who spoke with Fortune Editor-in-Chief Alyson Shontell in Washington, D.C. for a wide-ranging one-on-one interview on the annual Most Highly effective Girls summit.
And if Dimon finds he can’t give 100% of consideration in conferences the way in which he used to?
“I should move on,” he stated. “You can’t retire in place.”
Sports activities legends like professional soccer Corridor of Fame quarterback Tom Brady don’t complain that they’ve been taking part in the game for a very long time and that they’re drained and want a break to sit down out follow or a sport, continued Dimon. As an alternative, they offer it their all, each follow and each sport. The identical is true of being CEO, he stated.
“Every day, every meeting,” Dimon provides every thing he has, he stated.
Dimon, 69, is among the final Wall Avenue financial institution CEOs who efficiently led via the 2008 Monetary Disaster to stay in a day-to-day management function at a serious financial institution. The CEOs of Goldman Sachs, Morgan Stanley, Financial institution of America, and Citigroup have all undergone CEO transitions since that point. Amongst monetary corporations within the S&P 500, common CEO tenure this yr is 9.1 years in comparison with Dimon’s 19-year monitor document at JPM, in accordance Esgauge knowledge. Hypothesis about when he’ll retire and who’s subsequent to guide JPMorgan stays persistent. Final yr, Dimon introduced that his retirement was—lastly—now not 5 years away, which has been his chorus at any time when he was requested previously.
Dimon has stated the financial institution’s subsequent chief doesn’t should be the neatest particular person within the room, however they should be a coach, and have “the heart and the soul and curiosity and work ethic and respect,” he stated throughout a podcast final month.
Nonetheless, Dimon informed Shontell he loves his job and loves the work that JPM has achieved in working with cities and municipalities, lending to small companies, working with giant corporations, and in philanthropy. Though, Dimon admits he will get drained and desires some relaxation sometimes.
“Management is a lot of fun except for two things,” Dimon joked. “Customers and employees.”
Finally, some CEOs are finished in as a result of they’re good on the job however they don’t prefer it, he added. Some simply determine they don’t need to do it anymore. On the finish of the day, humility, studying day by day, not changing into complacent, and never being boastful are the issues that hold an organization transferring ahead, stated Dimon.
