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Jamie Dimon: Most Powerful Chairman & CEO of U.S. Biggest Bank JPMorgan Chase

Business Chronicles · 2022-11-23 · 유튜브 시청 387 · Board Views 3 · International

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저자: 미상 · 외국인

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JP모건 체이스 CEO 제이미 다이먼의 경력과 성과를 소개하는 영상이며, 투자 종목이나 가격 전망에 대한 발언은 없음. 경력 배경: 다이먼은 금융 가문 출신으로 아버지와 할아버지의 영향을 받았고, 터프츠대 졸업 후 하버드 MBA(1982)를 취득함. 커리어 전개: 아메리칸익스프레스를 거쳐 커머셜 크레딧에서 30세에 CFO가 됨. 이후 프라이머리카, 스미스바니, 트래블러스, 씨티그룹(1998 퇴사)으로 이어짐. 뱅크원 시기: 2000년 뱅크원 CEO로 부임해 위험관리 체계를 강화하고 비용을 절감함. 2004년 JP모건과 합병해 JP모건 체이스를 출범시킴. 2008년 위기 대응: 서브프라임 익스포저를 줄이고 베어스턴스, 워싱턴뮤추얼 인수로 금융 안정화에 기여함. 성과 수치: 매출은 2008년 672.5억 달러에서 2020년 1,195.4억 달러로, 순이익은 56억 달러에서 291억 달러로, 자산은 2.175조 달러에서 3.386조 달러로 증가함. 재산과 평가: 포브스 기준 순자산 16억 달러로 언급됨. 타임지 선정 세계 100대 영향력 인물에 4차례 들었다고 소개됨. 출연자 전망: 자산 가격이나 시장 방향에 대한 예측 발언은 없음.

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01. Jamie Diamond's net worth according to Forbes is 1.6 billion dollars Time Magazine has listed Jamie Diamond four times as one of the world's 100 most influential people unlike other billionaires Janie Diamond did not create any tech company nor he inherited any company he just started as a small employee to understand this gigantic amount note that JP Morgan Chase controls more valuable assets than the GDP of entire continents like South America Africa and Oceana growing up Jamie learned a lot about Finance from his father and grandfather Jaime finished high school and then joined toss University after earning an MBA Jamie Diamond gut offers to work at Goldman Sachs and Morgan Stanley 1985 while left American Express and Diamond went with them Diamond became the Chief Financial Officer of commercial credit at age 30.

02. wild and Diamond grew Commercial Credit into a financial Powerhouse in December 1988 Commercial Credit bought Primerica Corporation for 1.54 billion dollars in 1993 Primerica bought Travelers Insurance Corporation and changed its name to Travelers group in 1997 Smith Barney merged with Solomon Brothers in a 9 billion dollar deal 1998 Travelers group merged with City Corp in a 76 billion dollar deal in March 2000 Diamond accepted a new job as CEO of Bank One the country's fifth largest bank the new bank was the second largest in the country behind Citigroup and with time he became the most powerful CEO in the world Jamie Diamond's net worth according to Forbes is 1.6 billion dollars he's one of the richest CEOs and currently is serving as chairman and CEO of JP Morgan Chase Time Magazine has listed Jamie Diamond four times as one of the world's 100 most influential people JP Morgan Chase is the largest bank in the United States with around 3.8 trillion dollars in assets under management to understand this gigantic amount note that JPMorgan Chase controls more valuable assets than the GDP of entire continents like South America Africa and Oceania only four countries in the world have a higher GDP than JP Morgan Chase assets under management which are the United States China Germany and Japan unlike other billionaires Jamie dimon did not create any tech company nor he inherited any company he just started as a small employee and slowly with the passage of time he became the world's most powerful person want to know how he did it watch the full video we had business Chronicles tell the stories of extraordinary successful people please subscribe to our channel to help us in making more videos Jamie dimon was born on March 13 1956 in New York City he was the son of Theodore diamond and them as Kalos Diamond his parental grandfather worked in banking and then later joined shearson hamilling company as a stockbroker Jamie's father also worked at sherson so his family has a long history in financial services growing up Jamie learned a lot about Finance from his father and grandfather at age six he already started a business selling greeting cards by age nine he wanted to be rich and would tell his father that he would build a fortune when he was older he also loved reading by the time he was attending Browning School Jamie was reading big Financial books like security analysis by Benjamin Graham Jaime finished high school and then joined toss University he studied psychology and economics while at the University he wrote wrote a paper on a merger by shearson which his mother gave to Sandy Weil then the head of the company while was impressed by the paper and invited Jaime to the company to work on budgets Jaime agreed and put together numbers for the company's 40 to 50 branches during his summer breaks he graduated summa laude from Tufts University after Tufts Jaime worked at Boston Consulting Group for about two years and then joined Harvard Business School to get an MBA he graduated in 1982 as a baker scholar in the top five percent of his class while at Harvard he interned at Goldman Sachs after earning an MBA Jamie dimagut offers to work at Goldman Sachs and Morgan Stanley however he let these offers go and decided to join while as an assistant while had at the time sold shearson to American Express for 1 billion dollars and then joined American Express he needed help with the new organization aware of Diamond's number crunching skills he asked him to work with him promising it would be fun Diamond acquiesced while he would not make as much money as he would have with the established Financial companies like Goldman Sachs he was eager to get in on the ground floor of an operation and build something in 1985 while left American Express and Diamond went with him the two would go on to become a formidable duo in American Financial Services acquiring and building one of the largest companies in global Finance while and Diamond were shopping around for a business to acquire when they came across a company called commercial credit it dealt in personal loans and was owned entirely by Control Data wild bought the company in 1986 for 7 million dollars Diamond became the Chief Financial Officer of commercial credit at age 30.

03. alongside while the two set out to restructure the business they sold off its unprofitable businesses like irrigation systems in Israel and a hotel in Ireland the company owned because a client had defaulted on a loan they also made changes to its head counts a year later in 1987 they successfully took the company public at Commercial Credit Diamond developed a reputation for being a scrappy Banker who was never afraid of getting his hands dirty rather than restricting himself to his sea suit office Diamond would attend sales meetings engage with administrators and even visit the locations of clients who were falling behind on their loans to see why they were doing so he would consume as much information about his business as possible he wanted to know every asset and liability and talk to every person to get a good picture of things Diamond was also an aggressive Coast cutter he believed in maximizing Revenue while minimizing expenses especially bad expenses he was okay with good expenses like opening a new Branch or investing in technology but cut out bad expenses like entertainment and employee subscriptions one of the first things he did at Commercial Credit was cut printing costs by half driven to achieve efficiency Diamond also pushed his team a lot violin Diamond grew Commercial Credit into a financial Powerhouse through a Spate of Acquisitions in the late 1980s and throughout the 1990s Diamond's job was to conduct due diligence on all acquisitions utilizing his number crunching skills to rationalize their books and integrate the new businesses into the company during this period he held several roles often concurrently in December 1988 Commercial Credit bought Primerica Corporation for 1.54 billion dollars Primerica owned Smith Barney and Al Williams Insurance Company in 1989 Commercial Credit took Primerica public the same year the company acquired the retail brokerages of Drexel Burnham Lambert in 1990 Diamond became Executive Vice President of Primerica he concurrently worked as Chief Operating Officer of Smith Barney Incorporated its subsidiary in 1991 Diamond was named president of Primerica in 1993 Primerica bought Travelers Insurance corporate nation and changed its name to Travelers group Diamond became president and Chief Operating Officer of Travelers group Diamond recorded several successes with Smith Barney under his watch Smith Barney became the first brokerage to offer no load mutual funds and the only one to tie into the widely used personal finance program Quicken when he joined Smith Barney it was a small brokerage but by the late 1990s had become a major player on Wall Street by 1996 Smith Barney contributed 30 to 40 percent of the parent company's earnings in 1997 Smith Barney merged with Solomon Brothers in a 9 billion dollar deal Diamond became co-ceo and co-chairman of the new entity 1998 Travelers group merged with City Corp in a 76 billion dollar deal they formed a new company called Citigroup with diamond as co-ceo alongside two others unfortunately owing to disagreements with Weil Diamond left Citigroup in 1998.

04. after leaving Citigroup Diamond sold all of his shares in the company completely severing his ties with it he made 110 million dollars from the sale Diamond then spent one and a half years outside the financial World contemplating his next move he thought of opening an investment for Herman becoming a teacher he even got a job offered to work at Amazon however he eventually declined to return to finance he loved the industry and did well in it in March 2000 Diamond accepted a new job as CEO of Bank One the country's fifth largest bank at the time bank one had incurred a number of management missteps culminating in a net loss of 511 million dollars in 2000 Diamond was brought on to turn around the alien Consumers Bank as he had with commercial credit Diamond took the job and bought 2 million shares in the company giving him skin in the game he then recorded the company's management and instituted an expensive risk management system with the new system Diamond reduced the thanks exposure to risk borrowers such as Worldcom and let go of corporate clients who did not purchase the bank's profitable services like money management he even refused to do deals that would see the bank go into new business lines this conservative approach saw the bank survive the.com Bubble Burst and its ensuing contagion Diamond did not stop there he went on to implement cost rationalization measures at the bank including inquiring the managers of all the banks 1800 branches to prepare profit and loss statements and compensating them for net income not Revenue he also fixed the issues in the bank's unprofitable credit card business by 2004 Bank wine had grown its branches to 2 300.

05. Each of which was making about 1 million dollars the bank was also making 500 million dollars a year from its fixed income and trading businesses in 2004 Diamond steered Bank One into a merger with JP Morgan creating a new company JP Morgan Chase the new bank was the second largest in the country behind Citigroup diamonds served as president and CEO of JP Morgan Chase until January 1st 2006 when he was named CEO on January 1st 2007 he became JP Morgan Chase's board chairman since joining JP Morgan Diamond has steadily built up on its balance sheet developing it to become the biggest bank in the United States by assets in leapfrogged Citigroup in 2011.

06. Diamond first piloted it through the 2008 financial crisis where JP Morgan emerged as one of the most financially stable banks in the country this is because Diamond a naturally conservative Banker had overseen its disposal of 12 billion dollars in subprime mortgages in 2006 limiting its exposure to them Diamond even played a pivotal role in stabilizing America's Financial system following the 2008 crisis by having JP Morgan acquire bear Stearns for a 200 160 million dollars and Washington Mutual for 1.9 billion dollars in 2006 2008 and 2009 Diamond was listed as Time magazine's 100 most influential people in the world since then Diamond has grown JP Morgan from a revenue of 67.25 billion dollars in 2008 to 119.54 billion in 2020.

07. in that period the bank's net income increased from 5.605 billion to 29.13 billion dollars assets increased from 2.175 trillion to 3.386 trillion dollars as of November 2022 Diamond Remains the company's chairman and CEO according to Forbes he has a net worth of 1.6 billion dollars Diamond serves on the board of several non-profits including Bank policy Institute Harvard Business School and Business Roundtable he is one of the executive committee of the partnership for New York City and Business Council he served as a director of the Federal Reserve Bank of New York and on the boards of the University of Chicago the college fund uncf and the national Center of addiction and substance abuse diamond is a director at the James and Judith Kate Diamond Foundation the foundation donates to Education Health youth programs and Social Services Grants range from five thousand dollars to three hundred thousand dollars past beneficiaries include the Children's Aid Society Columbia University Medical Center and Goddard Riverside Community Center Jamie dimon was born to a family of Bankers he followed the footsteps of his father and grandfather and became a banker he had a good understanding of the banking industry and luckily he became a Chief Financial Officer of commercial credit at a young age of 30.

08. normally Bankers are known for their careful and risk-free approach but Jamie Diamond was aggressive his style of governance got good profits for the banks where he worked and with time he became the most powerful CEO oh in the world thank you for watching don't forget to subscribe to our channel to watch more videos like this

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