Business
JPMorgan CEO Jamie Dimon on mentorship and ‘the need to keep the Western world together economically’
I wasn’t surprised to see JPMorgan Chase CEO Jamie Dimon on stage yesterday at Fortune’s Most Powerful Women Summit. I’ve interviewed several women leaders over the years—TIAA CEO Thasunda Brown Duckett, Travelers Chief Marketing Officer Lisa Caputo, Mary Callahan Erdoes, who runs JPMorgan Chase’s Asset & Wealth Management, and veteran finance executive Heidi Miller, among others—who consider Dimon an important mentor. Women make up half of JPMorgan’s board and seven of the 13 members of its operating committee.
Dimon spoke with Fortune editor-in-chief Alyson Shontell about topics ranging from AI to blockchain, which you can read about here and here. Fresh from reporting a banner quarter, the bank chief expounded on AI, gold, regulation, jobs, tariffs, debt, government waste, New York’s mayoral race, and “the need to keep the Western world together economically.” You can check out the full interview here.
And here’s what I’ve gleaned from attendees, when it comes to Dimon’s mentorship approach:
Bet on Winners: Dimon helps people who’ve earned his respect and trust, whether it’s hiring people like Miller at multiple companies or advising Duckett during her inaugural year as CEO of TIAA. That instinct isn’t limited to women: Wells Fargo’s Charlie Scharf comes to mind. Dimon says he’s guided by performance, not gender or loyalty. To do otherwise, in his view, is a disservice to the team.
Share your network: Lisa Caputo met Dimon after he’d been fired from Citigroup and she had just arrived there. As she put it yesterday: “I was trying to build a women’s business from scratch. Every time Jamie would call, he would give me the names of three people to talk to inside the company, and he would also ask me what I’d learned so far. Through my conversations with him, he was literally helping me shape what the business model could look like.”
Go Beyond Borders: Anyone who launches a $1.5 trillion initiative is seeking a purpose beyond their own company. After almost two decades as CEO, Dimon expects ambitious people may leave. Part of his job is to help good people become better leaders wherever they go. The world needs more of them. Relationships matter. And having friends in far places helps a leader learn.
Contact CEO Daily via Diane Brady at diane.brady@fortune.com
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CEO Daily is compiled and edited by Joey Abrams and Jim Edwards.
