How Leaders Lead with David Novak

#14: Part 1: Jamie Dimon, JP Morgan Chase Chairman & CEO—Always Have a Plan to Deal With Problems

Sep 29, 2020
Jamie Dimon, Chairman and CEO of JPMorgan Chase, a leader who steered the bank through 2008 and COVID, shares hard-earned lessons. He talks crisis preparedness and building a fortress balance sheet. He discusses teamwork under pressure, mixing data with gut judgment, and how personal health reshaped his priorities.
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ADVICE

Start A War Room Early

  • Convene crisis war rooms early and meet daily to decide remote work, branch operations, and continuity.
  • Cut red tape; necessity forces faster execution and simpler approvals.
INSIGHT

Think In Bookends Not Predictions

  • Plan for bookend scenarios (best and worst) rather than betting on a single forecast.
  • Prepare your company to operate under prolonged adverse outcomes as well as rapid recoveries.
ADVICE

Blend Data With Pattern Recognition

  • Use analytics and history to inform decisions, then let pattern-recognition guide your gut.
  • Reserve extra time for irreversible choices and let others learn in the ring on reversible ones.
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