JPMorgan & Chase CEO Jamie Dimon had a rough go of it during the London Whale scandal in 2012.
One of the banks’ traders had lost more than $US6 billion after making enormous derivatives bets, and the bank got a bad reputation for its risky behaviour in the wake of the financial crisis.
Understandably, Dimon was feeling down at the time.
So his good friend Jimmy Lee, the legendary investment banker and vice chairman who passed away last month, decided to cheer him up.
Lee, an avid sports fan, arranged to have New England Patriots quarterback Tom Brady give Dimon a call at home and reassure him about the whole London Whale snafu.
Here’s Dimon describing that moment — and the surprise at his house when the phone rang (via The Undercurrent). The anecdote starts at 9:40:
JPMorgan sometimes works with the Kraft family, Dimon explained. Robert Kraft owns the New England Patriots.
Lee was extremely well-liked across Wall Street and in other circles. A list of the honorary ushers at his funeral will show you that. So it’s no surprise that he would arrange for a favour like that for his friend.
Of the phone conversation itself, Dimon said, “It wasn’t that much advice as much as, ‘Atta boy, hang in there, this too will pass.'”
Of course, this all happened a few of years ago — long before Brady’s own “Deflategate” scandal. Now it might be Dimon’s turn to give the quarterback a ring.