MEMO: JP Morgan Yet To "finalise" Successor For Daley But Jamie Dimon Is Sad To Lose His "Trusted Confidante"

Last week President Obama announced that Bill Daley, who’s a high-ranking JP Morgan exec, would be his new chief of staff.

We think that effectively ends the Obama-Jamie-Dimon-JP standoff. For now at least.

Daley’s now ex-boss sent a company-wide email on Thursday after hearing the bittersweet news.

From: Jamie Dimon

Sent: Thursday, January 06, 2011 3:16 PM

Subject: Bill Daley

As many of you saw on the news today, our own Bill Daley has ben named Chief of Staff to President Obama. This is a great and well-deserved honour, and I’m sure you will join me in congratulating Bill on this important appointment.

Bill is an outstanding leader; throughout his time here, he has been an exemplar of wisdom, integrity and decency. He has played a critical role as a member of our firmwide Operating Committee, and he has set an extremely high bar as head of our Corporate Responsibilty efforts and Chairman of our Midwest business. Personally, I can say that Bill has been an invaluable advisor to me and a trusted confidante. I will miss him greatly.

While Bill will be leaving us at JPMorgan Chase, I want to reiterate that we remain fully committed to continue driving our corporate responsibilty efforts forward. We have not finalised any plans yet regarding successors for Bill’s roles. but I will work closely with my Operating Committee colleagues regarding next steps, and we will keep you posted.

While all of us at JP Morgan Chase will be losing a dedicated leader and colleague, I also know that Bill’s return to public service will be great news for our country. Please join me in wishing him all the best in his new role at the White House.

jamie dimon signature

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