Dad’s Advice For JP Morgan’s (JPM) Jamie Dimon
November 09, 2009 10:57 AM
According to Bloomberg, Jamie Dimon of JPMorgan Chase & Co. (NYSE: JPM) has asked his father to join his company. Before this, his father, Theodore Dimon was with Bank of America Corp.’s (NYSE: BAC), Merrill Lynch & Co., Inc.
With that, Jamie can ask for his dad’s advice on tricky issues. Along with his 5 member team, Theodore joined the Bear Stearns Private Client Services – a separate division of JP Morgan. Jamie had publicly proclaimed that he wants to have at least 1000 brokers in its fold. As per the company’s documents, in 2008, its strength was 324. Bear Stearns offered JP Morgan an entry into retail brokerage. Bear Stearns’ clients have at least $ 25 million each, an average which is much higher than what its rivals in the industry.
