How Jamie Dimon Built Chase Into the U.S.’s Most Powerful Bank | WSJ

Jamie Dimon, CEO of JPMorgan Chase, is among the most powerful names in the banking industry. How did he come to acquire banks like First Republic Bank, Bear Stearns and Washington Mutual?

WSJ explains how Dimon’s risk management strategy, including his ‘fortress balance sheet,’ propelled him to the top of the largest U.S. bank, and how he has used that role to become the go-to voice for the banking world.

0:00 Dimon’s bank owns roughly 13% of the nation’s deposits
0:38 Dimon’s history and banking strategy
2:06 JPMorgan Chase’s size
4:44 Dimon’s influence on the banking industry
6:20 Dimon’s future

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[jayski]

To introduce a his key concept of a "fortress balance sheet" and only explain it with the animation of a castle is not worthy of the Wall Street Journal. Those of us who used to read the paper version of the WSJ would love to see you put up a copy of their balance sheet from their annual report and highlight each item that is evidence of the fortress. We're not afraid of numbers or ratio analysis.

[Rhb]

That guy talking about Jamie was Glazing so hard 😂😂😂

[Padoinky]

I was w/ BankOne in the early 2000s when JD came in to be CEO, w/ Charlie S as CFO, Austin A as CIO and a slew of other key lieutenants - shortly there after Chase and BankOne merged and the BankOne crew pretty much took over the combined institution… I spent 15 yrs working there, across multiple LOBs and around the globe… I recall working on a huge tech-op conversion in the payments area, as part of the B1-Chase integration effort - it was conversion weekend - Friday wherein we were operating a global systems upgrade that started at midnight GMT in London - it was 5am in Chicago, where our global command center was located in a huge 3rd lower-level basement conference room site wherein each line of business had its own “war room” attached to the main command center. I was the overall PGM for the Global Tech & Ops org… it was 5am CST…. These series of rooms off of the main hallway, have controlled access - I happened to be walking by one such door, on my way to a global check point call when I notice a person looking through the doorway and knocking - I look out and am certainly surprised to see JD, in a suit albeit w/ collar open and tie loosened - I open the door to allow entry and he shakes my hand, saying “I heard you folks are doing good things down here and I wanted to stop by to learn more - he proceeded to spend 90 minutes w/ us, both in our checkpoint call w/ the global team, as well w/ our small war-room team, asking questions about Ops sites, Tech environments, how the payment “supply chain”, including the Fed Resv, payment clearing houses, international payments clearing, etc work. I’ve worked for a few other super-huge global firms but have never had more respect for an executive that had sufficient curiosity about the businesses that he led, to actually (and w/out an entourage of underlings) invest his own time to learn and participate….

[alihusainmd]

What a fluff piece! Maybe describe exactly how they have a fortress balance sheet rather than that juvenile animation.

[portalkey]

It's been years since I left JPMC and yet Jamie Dimon is still an inspiration.

[Hermanjackson]

At the very least, I now grasp the concept of leverage.
Creating <wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information.
Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

[AlexandraWilliam-rjyc]

Investors cannot predict the future in negative markets since they always bring in a new set of enterprises to purchase and watch while laying the groundwork for a new successful ascent. Which stocks are the best to add to a watch list or buy right now? I've seen news stories of folks making up to $250k during the recession.

[andrew.alonzo]

There are many conflicting opinions about stocks and their prospects in the coming years; I aim for short-term solid gains from market corrections, and I would definitely hop on the ride if I knew a couple of things about day-trading, That is not on my speed right now i guess.. I'm just looking to make the right moves to help me grow and protect my $670, 000 reserve from inflation that looks so scary.

[ZensGamma]

What matters most is “it’s beneficial to him & to the government”… plain & simple…enough said

[glennnielsen]

Jamie is a gifted communicator who manages to communicate something complex so that the messages are easier to understand. He is an asset to the United States.

[tjbellah]

“I don’t know what that word means anymore” genius level answer sincerely.

[g-program-it]

nice video, on a side note a shout out to your editor/animator, they did a really good job

[rubenavila]

I respect Dimon alot. I was with Bank One in the early 90s. Later in the early 2000s I joined Chase Bank. He is intelligent business man.

[somguynamedpaul]

Imagine what Citi would be if Dimon became CEO

[alexsteven.m]

In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.

[Godfather]

I don’t directly invest in JPM stocks but I do like to focus on ETFs that have stock into it since I can own a small piece of it. Dimon is like the godfather of the banking industry and eventually I’d like to buy some stock in it cause I feel like under his leadership he’s built JPM to be a giant in the industry and under his tutelage I’m sure even when he’s retired whenever that happens there’s plenty of execs that can take his place

[xyz]

I would like to hear Jamie Dimon, in detail, explain what scared him away from sub-prime mortgages, and why he thinks everyone else, except The Borg (Goldman), missed those cues.

[kylesmith]

Executive compensation is too high for an industry that basically sits and holds (certainly in proportion to doing actual work).
That is the main sickness in banking.

[aakksshhaayy]

That young dude sounds like he is in love with Jamie Dimon

[AjitKumar-ypon]

Jamie is a successful CEO, during all the turbulence the bank didn’t collapse.