Topic
9 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2000
A host described Bank One as a roughly $30 billion market-cap bank compared with Citigroup at about $200 billion, though Dimon said Bank One was nearer $20 billion.
“it's a $30 billion market cap bank. Citigroup, where you just had been before, was a $200 billion bank.”
2000
Ben Gilbert asked whether Jamie Dimon bought $60 million of Bank One stock before taking the CEO job, and Dimon confirmed he did.
“Did we do the math right, that right before you joined Bank One, you bought $60 million of stock?”
2000
Analyst Mike Mayo wrote a report on Bank One that said even Hercules couldn't fix the bank, according to Jamie Dimon.
“there had been an analyst called Mike Mayo who had done a report. I remember one of the great lines of the report, even Hercules couldn't fix it.”
2000
Jamie Dimon says Bank One's board had 21 directors, drawn from several earlier acquisitions, and that 11 of them disliked the other 10.
“I met six of the directors. I, there were 21 directors. 11 hated the other 10.”
2000
Jamie Dimon says he found that Bank One carried more US corporate credit risk than Citibank, while accounting for it very aggressively.
“I quickly realized that Bank One had more U.S. corporate credit risk than Citibank did.”
2000
After joining Bank One, Jamie Dimon reviewed every loan, marked them down, added reserves and told the board.
“I went through every single loan in the books. I marked them all down, put up more reserves, told the board about it”
2004
Jamie Dimon says Bank One shifted its middle-market revenue mix from about 80% loan interest to about 40% interest and 60% fees such as payments by the time of the JPMorgan merger.
“By the time we merged with J.P. Morgan, we had 40 NII from the loan and 60% NIR from other type of things like payments.”
2004
In the 2004 merger of Bank One and JPMorgan Chase, Bank One shareholders received 42% of the combined company.
“I think JPMorgan Chase referred to it as that. Bank One shareholders get 42% of the combined company.”
2004
Jamie Dimon says that at the 2004 JPMorgan–Bank One merger he had a book called 'how we do business', and then-chairman Bill Harrison told him to send it out.
“When we first did the J P Morgan Bank one merger in 2004, I had a book, how we do business, and Bill Harrison, who was the chairman of the time, said, you've got to send it out.”
Episodes