James Dimon Named Chairman and CEO of Bank One Corp.
James Dimon, a long-time lieutenant of Citigroup Co-Chairman Sanford Weill, has been appointed chairman of the board and chief executive officer of Bank One Corp. This move comes over a year after Dimon left his position as president and co-chief executive officer of Salomon Smith Barney. Dimon's extensive experience in the financial industry, including his tenure as chief executive of Smith Barney and co-chief executive of Salomon Smith Barney, has prepared him for this new challenge. With his appointment, Dimon has purchased 2 million shares of Bank One common stock, demonstrating his commitment to the company's future.
Key Takeaways:
- James Dimon, a former Citigroup executive, has been named chairman and CEO of Bank One Corp., a position he will assume after a year-long tenure as president and co-CEO of Salomon Smith Barney.
- Dimon's extensive experience in the financial industry includes serving as chief executive of Smith Barney and co-chief executive of Salomon Smith Barney.
- Dimon's appointment comes on the heels of John B. McCoy's retirement in December 1999, and his selection was led by John R. Hall, the non-executive chairman of Bank One.
- Dimension acquired by buying 2 million shares of Bank One common stock, demonstrating his commitment to the company's future.
- Bank One Corp. is the nation's fourth-largest bank holding company, with assets of over $265 billion and a significant presence in Visa issuance, small business lending, mutual fund management, and automotive lending.
- John S. Reed, chairman and co-CEO of Citigroup, announced his retirement from these positions on April 18, 2000.
Statistics:
- Bank One Corp. has assets of over $265 billion.
- Bank One Corp. is the nation's fourth-largest bank holding company.
- James Dimon has purchasing 2 million shares of Bank One common stock.
Sources:
- BestWire, Nov. 2, 1998
- BestWire, March 2, 2000
- BestWire, Mar 28, 2000
- BestWeek (greenm@ambest.com)