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The Jamie Dimon Interview

Acquired

2025/07/16
Acquired

Acquired

2025/07/16

Shownote

We sit down with Jamie Dimon for a live conversation at Radio City Music Hall, covering the incredible journey from his 1998 firing at Citgroup (where he was widely expected to become CEO) to building the most powerful bank in the world. Today JPMorgan Chase is a juggernaut — the most systemically important non-governmental financial institution in the world, with over twice the market capitalization of its nearest competitor. But it certainly wasn’t always this way! Jamie takes us from his career restart at the struggling Chicago-based Bank One through how he transformed that platform into the foundation for the modern JPMorgan Chase. We dive into the “fortress balance sheet” strategy that has defined his tenure, and cover blow-by-blow Jamie’s approach to the Great Financial Crisis, Bear Stearns, WaMu, First Republic and more. Tune in for an incredible conversation, live from New York City’s most iconic venue! Sponsors: Many thanks to our fantastic Summer ‘25 Season partners: * J.P. Morgan Payments [https://bit.ly/acquiredJPMPjamiepod] * Vercel [https://bit.ly/acquiredvercel25] * Anthropic [https://bit.ly/acquiredclaude25] * Statsig [https://bit.ly/acquiredstatsig25] Episode image photo credit: Rockefeller Center More Acquired: * Get email updates [https://www.acquired.fm/email] with hints on next episode and follow-ups from recent episodes * Join the Slack [http://acquired.fm/slack] * Subscribe to ACQ2 [https://pod.link/acquiredlp] * Check out the latest swag in the ACQ Merch Store [https://www.acquired.fm/store]! ‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.

Highlights

In a live conversation at Radio City Music Hall, Jamie Dimon shares the remarkable story of his career resurgence after being ousted from Citigroup and how he transformed Bank One into what would become JPMorgan Chase — today the most powerful bank in the world. The discussion traces his strategic thinking, leadership during crises, and the philosophy that guided his decisions through some of the most turbulent periods in modern finance.
03:30
Jamie Dimon explains the Citigroup model of acquiring and merging companies.
15:27
Dimon discovered high U.S. corporate credit risk at Bank One and took decisive action to manage it.
20:19
Stress-testing high-yield credit spreads to manage 'fat tails' events
30:44
Jamie Dimon prioritized business logic over brand in acquisitions
48:21
Cyber risk is the biggest concern in financial services.
1:03:10
Jamie Dimon plans to teach and write after leaving JPMorgan Chase.

Chapters

From Citigroup to Chicago: How Jamie Dimon Rebuilt His Career
00:00
Turning Around a Broken Bank: The Bank One Challenge
06:32
Crises, Mergers, and the Making of a Financial Giant
20:19
The Logic Behind Strategic Acquisitions and Risk Control
30:44
Bear Stearns, WaMu, and Navigating the Financial Crisis
35:25
Building a Legacy: Leadership, Strategy, and the Future of Banking
51:03

Transcript

Ben Gilbert: David, we completely blew it. We went into Jamie Dimon's office, had our little meet and greet. David Rosenthal: We did not ask about the Duel pistols, Yeah, from the Duel, Alexander Hamilton and Aaron Burr, which J.P. Morgan owns and keeps i...