JP Morgan boss Jaime Dimon back to work after heart surgery, stock rises

Jamie Dimon, CEO of JPMorgan Chase, is back in his office after recovering from emergency heart surgery last month.

However, that office is in his Park Avenue co-op, as the boss of the world’s largest bank works from home, as do thousands of his staff.

“I’m recovering well and getting stronger every day, and I’m happy to be back at work this week – even though I’m working remotely like many of you,” Dimon said in a note to his colleagues.

Dimon, 64, underwent emergency surgery on March 5 after being diagnosed with “acute aortic dissection,” leaving co-chairs Daniel Pinto and Gordon Smith in charge of the New York-based lender.

The recovered bank boss also told staff that “his heart goes out to the people and families most affected by COVID-19.”

He added, “As always, JPMorgan Chase will play its essential role in helping the world recover. Our extraordinary abilities prepare us for difficult times like this – we will rise to the challenge ”.

The billionaire executive, who also suffered from throat cancer in 2004, managed to recover from the operation in less than a month and will help the bank navigate the murky waters triggered by the coronavirus outbreak and its resulting market crash and global economic downturn.

When Dimon underwent his surgery, the Dow Jones Industrial Average was over 26,000 points and the US economy was just beginning to recognize the severity of the health emergency. The Dow Jones closed at 21,413.44 points on Thursday. In addition, 6.6 million people filed for new unemployment benefits last week, the Ministry of Labor said yesterday, which means that nearly 10 million people have filed for unemployment in the past two years. recent weeks as the pandemic rages in the country.

The market seems to have reacted positively to the news, as JPMorgan Chase (JPM) closed actions yesterday’s session with a gain of 3.7%, against a jump of 2.28% in the S&P 500

Dimon became a member of the management staff of JP Morgan in 2004 when the bank acquired Bank One, the financial institution the New York executive was running at the time, becoming president and chief operating officer of the company once. the merger achieved.

Just a year later, Dimon became CEO of JPMorgan Chase, and guided him through the financial crisis of 2007-2008, acquiring Bearn Sterns, the fifth largest investment bank in the United States at the time. , allowing JPMorgan to become one of the winners. the large-scale reorganization that swept through financial services.


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Joan Ferguson

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