SM

podcast notes

Jamie Dimon, Chairman & CEO

Jamie Dimon is Chairman of the Board and Chief Executive Offi cer of JPMorgan Chase & Co., a global fi nancial services fi rm with assets of $2.5 trillion and operations worldwide. The fi rm is a leader in , fi nancial services for consumers, small business, commercial banking, fi nancial transaction processing and asset management.

Dimon became CEO on January 1, 2006 and one year later also became Chairman of the Board. He was named President and Chief Operating Offi cer upon the company’s merger with Bank One on July 1, 2004. Dimon joined Bank One as Chairman and CEO in 2000.

Dimon began his career at Company. Next, he served as Chief Financial Offi cer and then President at Commercial Credit, which made numerous acquisitions and divestitures, including acquiring Corporation in 1987 and The Travelers Corporation in 1993. Dimon served as President and Chief Operating Offi cer of Travelers from 1990 through 1998 while concurrently serving as Chief Operating Offi cer of its Smith Barney Inc. subsidiary before becoming co-Chairman and Co-CEO of the combined brokerage following the 1997 merger of Smith Barney and . In 1998, Dimon was named President of Inc., the global fi nancial services company formed by the combination of Travelers Group and Citicorp.

Dimon earned his bachelors degree from and holds an MBA from . He serves on the boards of directors of a number of non-profi t institutions including the Clearing House and Harvard Business School. Additionally, he is the Chairman of the Business Roundtable and serves on the executive committee of and the for City, and is a member of the Forum, Financial Services Roundtable and Council on Foreign Relations.

oGoLead.com

1 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

It’s important to remember that you learn from everyone. Jamie learned how to recognize others from David Novak. David did not set out to teach this to Jamie, instead, Jamie paid attention to what David did, saw the value of recognition and took action to incorporate recognition into his leadership style. As you watch other leaders, you can learn what to do, and what NOT to do.

Do you recognize the value of learning from everyone? Why or why not? Who can you watch this week in order to learn a new way to lead?

Recognition requires humility. Recognition shows others that you don’t always have all the answers and you are willing to thank others for their contribution. Jamie wasn’t good at recognition initially, however, he watched others to learn how. It’s simple things, like taking time to make a phone call to tell others thank you, that make a big impact on those you lead.

How well do you recognize others? Check out Who’s Your OGO? for tips on how to recognize others.

oGoLead.com

2 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Leadership is about heart, humility, learning and sharing with others. You want to follow great leaders who you trust, respect, tell you the truth and who have your best interest in mind. You demonstrate you have the best interests of others in mind by giving them a chance, providing honest feedback, and wanting them to succeed. If you are solely focused on analytics and details, you are focused on the wrong things as a leader.

Which of these leadership characteristics do you have today?

Which leadership characteristics would you like to develop?

oGoLead.com

3 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Jamie’s advice to aspiring leaders:

• Earn it everyday.

• Learn, Learn, Learn! Spend 70 – 80% of your time learning, because without learning, you won’t be a good leader.

• You’re going to get kicked in the ass. Learn from it and move on. How you deal with tough times is important. It’s OK to cry and moan for a week, but then you’ve got to get up, dust yourself off, and move on.

• Work with and for people you respect, because if you do, you will enjoy every day.

How much time do you spend learning?

What is one topic you need to learn more about? What actions will you take to learn more?

oGoLead.com

4 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Jamie spends time engaging with frontline workers by hosting bus trips with beer and immunity. He asks the frontline workers two questions: What are we doing right? What are we doing wrong? To apply this in your business, consider these tips:

• Make it fun – beer, bus, and immunity make Jamie’s research fun for everyone. Take time to thank the front line. It’s not just about getting feedback, it’s also about showing appreciation. • Respond with respect. How you respond to feedback matters. If you get mad, people may not share their thoughts with you in the future. Always treat people with respect. • Take action on what you learn. When you incorporate what you learned from the frontline and let them know what you did, you show respect. Listening and fixing the issues is the key to showing respect.

What feedback do you need to get in order to improve make improvements?

How can you incorporate these tips into your feedback gathering process?

oGoLead.com

5 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Big companies can be bureaucratic. Jamie uses these three strategies to shock the system:

• Return every email and phone call. • Do it today. Don’t wait. If you see something dumb, fix it. • Let leaders do their thing.

How well do you apply these strategies?

Conflict is tough, and it’s tempting to avoid conflict. But remember, problems don’t age well. Jamie answers these questions on Sunday nights to help him engage in necessary conflict:

What am I avoiding?

What’s tough?

What do I have to do?

oGoLead.com

6 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

It’s important to get real feedback from people, to go public with your plans, and to invite those you trust to hold you accountable.

Do you avoid conflict?

How can you incorporate some of these tips to help you engage in necessary conflict?

Gallup research reveals that 70% of workers are disengaged. Jamie shared three reasons for worker disengagement:

• People don’t like their boss. • People don’t make the job fun. Instead, they put bright kids in boring jobs, which leads to disengagement. • Leaders don’t do a good job. Leaders have a huge impact on engagement.

Why do you think 70% of workers are disengaged? What can you do to increase engagement on your team?

oGoLead.com

7 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

When leading a turnaround situation, it can be tough and lonely, especially if you don’t have a team yet. Here’s Jamie’s tips on handling a turnaround situation.

• Be patient. Learn all you can. Meet the people by getting on the road and then reporting what you learn to others. • Be direct with the board. Let them know why you are making the proposals: this is good for the company and clients. You always want to do the right thing for the company and its clients. • Fix the issues, otherwise you won’t have a great company. • Be forceful and convincing about doing what’s right. Take the time to get buy in from others, but at some point, you have to make the decision with confidence. • You have to build your team around you and give your other managers a chance to make an impact. Without this, you demoralize the whole company.

How can you apply this wisdom with a challenging situation you’re facing?

oGoLead.com

8 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Jamie is disciplined about follow-up and one way he keeps track of his tasks is by keeping an 8x10 handwritten list with him at all times. He lists the emails and phone calls he needs to return, he keeps track of who owes things to him so he can follow-up, and he lists things he needs to think about and will reflect on this while he’s driving. When an item is completed, he obliterates it off the list with joy.

How do you keep track of things you need to do?

What can you learn from Jamie’s approach?

oGoLead.com

9 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Entrepreneurship can be challenging because you are a CEO with fifty things to do yourself. Here’s Jamie’s advice for entrepreneurs: • Know what you’re doing by looking at what other people are doing. • Look at your competition. • Understand that all things matter. Businesses can fail because they overlook something that mattered.

This advice can help anyone. Which of these tactics would help you become more successful?

Jamie’s personal mission is to make it a better world. He wants to make everything he touches better and show respect for others.

What is your personal mission?

oGoLead.com

10 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

oGoInsider Key Points

Jamie’s final advice for you is:

• America is an exceptional place; we just need to focus on fixing our problems. • Work hard and take care of your mind, body and soul. • Spend your life learning.

Which piece of advice resonates with you the most? Why?

oGoLead.com

11 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

Podcast Reflection Questions

Review what you learned from Jamie Dimon and answer these questions.

1. What is your biggest learning from Jamie Dimon?

2. What is one action you can take to become a better leader based on his wisdom?

3. Complete the action plan on the next page.

oGoLead.com

12 SM podcast notes Jamie Dimon, Chairman & CEO JPMorgan Chase & Co.

Action Plan

What am I going to do? By When?

Date Completed

What am I going to do? By When?

Date Completed

What am I going to do? By When?

Date Completed

How will this action make a positive impact on your leadership? On others?

oGoLead.com

13