Tuesday, May 21, 2013

Once fired, now "indispensible man"

Superb story on JPM chief Jamie Dimon in Bloomberg Business Week.

As with most of the high and mighty, there is a comeback story buried here:

In 1998, Weill and Dimon’s deal frenzy climaxed in an historic merger with Citicorp: They had built the largest financial-services conglomerate on earth. And Dimon was universally understood to be the next in line to run it.

Then he was fired. Dimon had clashed with Weill’s daughter over her role at the company as well as with executives who had arrived with the larger mergers, but Dimon’s primary sin had been crowding the Citi throne. He spent more than a year out of action."

Fired, unemployed for one year.

Now "Wall Street's Indispensible Man" according a to a leading business publication.

In the middle of the storm, remember:  As long as you don't quit, better days ahead.....

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