Word: dimon
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Dates: during 2000-2009
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Chief Executive and Chairman of JPMorgan Chase Jamie L. Dimon spoke before the 900 graduating students of the Harvard Business School yesterday as part of HBS’ Class Day festivities. Both Dimon and student speaker Thomas C. Rajan struck melancholy tones in their remarks, emphasizing the need for greater reflection and responsibility among business executives in the current economic climate. The event was held on Baker Lawn in the afternoon, and light rain periodically fell as students and their families gathered to honor HBS professors, present the class gift, and celebrate the conclusion of their studies. Following brief remarks...
...tempting to say that no executive, no matter how accomplished, can fix the nation's largest banks. They can only be fixed when the credit markets themselves are repaired. Antagonists to that way of thinking would refer to Jamie Dimon of JPMorgan (JPM) who they claim can fix anything in the financial world. That point of view fails to admit that he did not break his bank in the first place...
...While mortgage losses show faint signs of moderating, banks still have a lot of credit-card ugliness to work through. At JPMorgan Chase, card services was by far the worst-performing division, with a loss of $547 million. When Whitney asked CEO Jamie Dimon if the business would return to profitability this year, his answer was a succinct "No." At Citi, "credit-card losses seem to be breaking their historical correlation with unemployment," CFO Kelly said. That is, credit-card losses normally rise with the unemployment rate. Now they're rising faster...
...largest banks will address Harvard Business School graduates. In a press release issued earlier this week, school officials announced that James L. Dimon—chairman and CEO of JPMorgan Chase—will return to his alma mater to speak at Class Day on June 3. Dimon was heralded last month by the Financial Times as one of the 50 people who will lead the way out of the crisis. The announcement generated excitement among students, who said that they were looking forward to hearing Dimon’s opinions and knowledge about today’s economy...
...March were upbeat words from Citigroup CEO Vikram Pandit about Citigroup's profitable performance during the first two months of 2009. Friday's stock market swoon, traders say, was partly triggered by cautious comments from Bank of America CEO Ken Lewis and JP Morgan Chase CEO Jamie Dimon, who both noted that March was proving to be a more difficult month than either January or February. As Dimon told Bloomberg TV while standing outside the White House after a group of bankers met with President Obama, "This downturn - it's pretty powerful stuff...