THE BOTTOM LINE
The fast-growing kingdom of Jamie Dimon
The question now is whether JPMorgan is too big for its own good
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HIS EARS are smaller. And there is no crown. But on Wall Street, at least, Jamie Dimon is America’s answer to King Charles III — adulated by some, resented by others, but incontrovertibly powerful.
Days before the British monarch’s coronation, Dimon cemented his royal status in finance with another landmark deal for JPMorgan Chase, the bank he has led since 2005.
With the state-orchestrated takeover of the failing First Republic, JPMorgan has swelled to three times its size before the 2008 financial crisis, and now commands an asset base of nearly US$4 trillion.
