News

JPMorgan Chase CEO undergoes heart surgery

March 6, 2020 02:17 PM


CEO of leading US bank JPMorgan Chase, Jamie Dimon, was recovering after emergency heart surgery Thursday, once again bringing the question of the financial institution's succession plans to the fore.

Dimon's operation was to repair an "acute aortic dissection," according to an internal letter sent to employees and seen by AFP. 

"The good news is that it was caught early and the surgery was successful," the letter said. "He is awake, alert and recovering well."

The company did not indicate how long Dimon might be out of commission in recovery.

Head of the company's investment bank Daniel Pinto and head of the consumer bank Gordon Smith will take over Dimon's day-to-day duties.

Both are among the contenders under consideration to succeed Dimon, 63 -- a matter which could now take on renewed urgency, though Smith is 61. 

Dimon, who battled throat cancer in 2014, has been at the helm of JPMorgan Chase for 15 years, steering it through the 2008 financial crisis.

Dimon, with his signature silver hair, is one of the best-known and most-influential voices in the American business community.

President Donald Trump reportedly approached him for the treasury secretary position in 2016.

After his cancer diagnosis, JPMorgan Chase's board of directors made finding Dimon's successor a priority.

JPMorgan Chase is the largest US bank both in terms of assets and profits, with a record net profit of $34.43 billion in 2019. 



Most Read

  1. Here are some unknown facts about Mahira Khan hubby Salim Karim Here are some unknown facts about Mahira Khan hubby Salim Karim
  2. Dutch scientist predicts massive quake to hit Balochistan in next 48 hours Dutch scientist predicts massive quake to hit Balochistan in next 48 hours
  3. Electricity bills nonpayment lands Master Tile owner in lock-up Electricity bills nonpayment lands Master Tile owner in lock-up
  4. Saba Qamar’s controversial dance moves land her in trouble Saba Qamar’s controversial dance moves land her in trouble
  5. 134 more suspects identified in MDCAT scandal 134 more suspects identified in MDCAT scandal
  6. Mahira Khan ties the knot with Salim Karim in western-style wedding ceremony Mahira Khan ties the knot with Salim Karim in western-style wedding ceremony

Opinion

  1. Wave of terror attacks targets places of worship in Pakistan, resilience remains unshaken
    Wave of terror attacks targets places of worship in Pakistan, resilience remains unshaken

    By Rehan Khan Ghauri

  2. Gandhi for the world and Godse for India:Subterfuge or plainspokenness
    Gandhi for the world and Godse for India:Subterfuge or plainspokenness

    By Dr Ghulam Nabi Fai

  3. China National Day: Strengthening China-Pakistan Friendship and Coordinated Economic Cooperation
    China National Day: Strengthening China-Pakistan Friendship and Coordinated Economic Cooperation

    By Dr Asif Channer

  4. Gender equality: A pre-requisite for a balanced society
    Gender equality: A pre-requisite for a balanced society

    By Mehak Sabir

  5. Time to move on and build a better Pakistan
    Time to move on and build a better Pakistan

    By Murtaza Rafiq Bhutto