Jamie Dimon: The Turnaround Specialist


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Case Details:

Case Code : LDEN060
Case Length : 28 Pages
Period : 2000-2009
Pub Date : 2009
Teaching Note :Not Available
Organization : JPMorgan Chase & Co.
Industry : Financial Services & Banking
Countries : USA

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts Contd...

Acquisition of Bear Stearns

Having proved his reputation as a turnaround specialist, Dimon came out with his announcement of acquiring Bear Stearns on March 17, 2008. The announcement came at a time when Bear Stearns was on the brink of collapsing...

The Challenges

The biggest challenge before Dimon was managing the 14,000 Bear Stearns employees. Dimon planned to retain only 45 percent of these 14,000. This resulted in massive lay-offs since the company was not financially stable enough to manage these employees...

Management and Leadership Style

Dimon was a staunch believer of meritocracy and he encouraged promotions being given to deserving people while the bad ones had to leave the organization. Dimon added, "That's why Americans love sports. There's a purity in it - you win or you lose - whereas in corporate America when you strike out, there's always some excuse."...

The Road Ahead

As of 2008, Dimon had created a business that had assets of US$ 1.6 trillion and a presence in around 60 countries across the world. Dimon aimed to grow JPMorgan Chase further by focusing on continuous acquisitions...

Exhibits

Exhibit I: Financial Highlights of Bank One
Exhibit II: Top 10 Mergers in the US (As of 2005)
Exhibit III: JPMorgan Chase Businesses after the Merger
Exhibit IV: Problems at JPMorgan Chase
Exhibit V: Financial Highlights of JPMorgan Chase

 

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