Executives at JPMorgan Chase are apparently “obsessed” with their proximity to CEO Jamie Dimon.A handy organizational chart is driving the over-the-top interest, according to an insider at the company, which is reporting its quarterly results Thursday. The chart, which displays the reporting structure, is open for all to see internally and is not accessible outside the company. Just click on the employee and the chart pops up, providing a visual reference to how far one is from the top.
The JPMorgan insider says: “These guys are obsessed with this chart. They are well aware of who is one block or two blocks away from Dimon.”
[John Hogan, for example, is so close to Jamie Dimon, he can smell his sweat on a hot day.]
The source said the preoccupation is such that an executive will take a leadership role in a less desirable department in order to have a direct report to Dimon. So, rather than be no. 2 in a high-profile, revenue-earning department that’s two steps away from Dimon, an executive might choose to be head of a support department if it comes with direct report status.
The competition is fierce to get close to the boss but it’s not so much to jockey to be the next CEO, but rather just to have access to Dimon.
Granted this is common in most companies … who doesn’t want to have the boss’ ear? … but the insider expressed amusement in how much time is spent by executives studying the chart and their acute awareness of their placement, as well as the positions of their peers.