The House of Dimon: How JP Morgan's Jamie Dimon Rose to the Top of the Financial World
Praise for The House of Dimon\ "Without the profanity and showmanship, Jamie, within the world of business, reminds me most of George S. Patton, America's premier WWll battlefield general. Both read history, prepared meticulously, and led from the front—innovatively and instinctively. Both were confrontational. When asked what unit they had served in during the war, most members of the Third Army responded proudly and simply, 'I was with Patton.' Perhaps one day those at JPMorgan will say the...
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Jamie Dimon is Wall Street's biggest player. Following the eleventh-hour rescue of Bear Stearns by JPMorgan, his profile has reached stratospheric levels. And while the deals and decisions he's made have usually turned out to be the right ones, his journey to the top of the financial world has been anything but easy. Now, in The House of Dimon, business writer Patricia Crisafulli goes behind the scenes to recount the amazing events that have shaped Dimon's career, including his rise to prominence as Sandy Weill's protégé at Citigroup, only to be fired and denied the top spot; his orchestration of the JPMorgan acquisition of BankOne, a deal that brought Dimon back to Wall Street as CEO of JPMorgan; and the drama surrounding the purchase of Bear Stearns, which helped avert a government bailout, and the strategic acquisition of Washington Mutual. Through interviews with Dimon, Weill, JPMorgan board members, and colleagues who've known Dimon over the course of his career, you'll gain rare access to one of today's savviest financial figures. Each step of the way, this engaging book provides insider accounts of how Dimon successfully acquired and integrated companies; reorganized underperforming units; created efficiencies; and grew bottom-line results as the consummate hands-on manager. Most importantly, Crisafulli places Dimon in the context of contemporary Wall Street—an environment that has destroyed several top CEOs and led to the demise of numerous major financial institutions—and shows you how Dimon's management style, ability to inspire outstanding performance, and talent for taking calculated risks have allowed him to excel where many others have failed. Jamie Dimon has flourished by avoiding alluring, but potentially catastrophic risks and taking advantage of strategic opportunities. During one of the most difficult and tumultuous periods in Wall Street history, he has survived and thrived. The House of Dimon reveals how he's done it and explores what lies ahead for Dimon, as he attempts to grow JPMorgan in the face of the unrelenting pressures of Wall Street.
Preface. Acknowledgments. Part One: In the Eye of the Storm. Chapter 1 The Dimon Way. Running the House of Dimon. The Rise, Fall, and Rise of Jamie Dimon. What You See Is What You Get. Straight Talk about a Credit Crisis. Never, Ever Forget the Downside. A Culture of Transparency. Doing What It Takes to Get the Job Done. Chapter 2 Taking a Bear-Sized Bite. No Ordinary Deal. Presenting the Deal to Shareholders. Step-by-Step Through the Deal That Changed Everything. Reining In the Risks. On Dimon’s Shoulders. Part Two: The Making of a Wall Street Leader. Chapter 3 The Weill Years: In the Trenches. The Making of Jamie Dimon. The Market in His Blood. Going to Work for Weill. The Rise of Sandy Weil. In the Trenches at Commercial Credit. Buying Primerica—A New Second Chance. Chapter 4 A Force on Wall Street. Primerica Grows. A New Team for a New Corporate Entity. Growing Tensions. The Deal of Deals. The Firing of Jamie Dimon. Chapter 5 The Recruitment of Jamie Dimon. Life after Citigroup. Bank One’s Search for a CEO. The New Bank One CEO. Taking Over as CEO. A House Divided. The Beginning of a New Culture of Accountability. Chapter 6 The Turnaround of Bank One. New Players for the Team. Welcome to Boot Camp. Taking It to the Street. Turning Around Bank One. Straight Talk from the New CEO. The Fortress Balance Sheet Debut. Restoring Profi tability. Chapter 7 Back on Wall Street. The House of Morgan. The Deal That Almost Didn’t Happen. Delving into JPMorgan Chase. Dimon Takes Over. The Storm of 2007. The Wall Street Statesman. Part Three: Weathering the Storm. Chapter 8 The Dimon Fortress. Strong Defense, Strategic Offense. The Signature Phrase. It Always Pays to Be Prepared. No Resting on the Laurels. Advice and a History Lesson. Stress Testing Assets. Having Real Capital. The Long-Term View. Chapter 9 Taking Over WaMu: A Sign of the Times. Welcome WaMu. Washington Mutual Runs into Trouble. A Strategic Fit for JPMorgan. “First-Class” Banking Meets “Whoo Hoo!”. A Somber Picture. Failure and Takeover: A Sign of the Times. More Acquisitions in the Future? Waiting for What Comes Next. Chapter 10 Navigating Financial Storms. A Brief Postmortem of a Complicated Crisis. Bubbles Are Trouble. Even the Best Model Can’t Predict Everything. Blame the Underwriting. Launch New Products Cautiously. Risk at One Firm Affects Others. More Regulation Is Coming. Bolder, Braver Leaders. Chapter 11 A Wall Street Statesman. The Hard Work of Being a Leader. Family, Humanity, and Then JPMorgan. Loyal—to the End. Notes. About the Author. Index.
\ From Barnes & NobleJP Morgan Chase CEO Jamie Dimon has been called everything from a "whiz kid" and "Wall Street's biggest player" to "a titan and builder" to "cluelessly arrogant." His up-again-down-again ride to the top inspired New York mayor Michael Bloomberg to compare him to a Shakespearean hero; others have been more enthralled by his hands-on management style and talent spotting. Patricia Crisafulli sorts it out in a book that will allow readers to fantasize about their own Walter Mitty corporate careers.\ \
