As a manager, JP Morgan CEO Jamie Dimon doesn’t like when colleagues throw each other under the bus, MarketWatch’s Sital Patel reports.
Speaking at a Financial Women’s Association event last Tuesday, Dimon elaborated on his managerial style and Ina Drew’s exit from the bank, sources told MarketWatch. From the report:
Dimon also talked about his biggest pet-peeves as a manager. He said in his management meetings anyone can bring anything up. And he hates when individuals comes into his office afterwards wanting to discuss a topic that they didn’t bring up in a meeting, as he expects a healthy debate and transparency.
He pointed to Ina Drew, the head of the chief investment office, who lost her job over the London Whale debacle and said afterwards, internally, some people tried to throw her under the bus. Dimon said he has no tolerance for people jumping on the “band wagon.”
After his first quarterly loss and $US23 billion set aside for legal fees, Dimon now has plenty of detractors hoping to throw him under the bus.
Dealbook’s Andrew Ross Sorkin wrote this morning that many of his opponents are from the “pundit” class, a campaign hedge funder Dan Loeb called a “bloodlust.” On the other hand, you have voices like Salon’s Alex Pareene trying to convince Maria Bartiromo that JP Morgan’s success for its investors (despite its legal woes) shouldn’t mean Dimon is spared.