While prepping to deliver the bad news regarding J.P. Morgan’s third quarter flop, CEO Jamie Dimon found time to chat with members of the Financial Women’s Association. The off-the-record chat, placed firmly on-the-record by MarketWatch’s Sital Patel, was rather illuminating. Here are some key takeaways.
- Dimon’s biggest pet peeve is when employees are afraid to bring up sensitive topics in management meetings, choosing instead to come to his office afterwards. He prefers a healthy public debate.
- When he sees other Wall Street CEOs, Dimon apologizes to them regarding the fallout from the “London Whale” scandal. He recognizes that the bad press hurts Wall Street’s still-wounded image.
- Dimon anticipated 80% of the “London Whale” fallout but was surprised by the other 20%. Unfortunately he didn’t elaborate on what that 20% entails.
- He’s not afraid to joke about the Whale fiasco, even if it’s a fairly poor pun.
- Dimon feels that leadership is a learned skill set, not a genetic trait. “The key is to do your job well and listen to what people are saying.”
- He kicks back on the weekends by playing tennis with his daughters, who, by the way, aren’t afraid to come to his defense if the media starts picking on him.
- He never considers gender when making a hire. Best candidate wins.
What to Consider Before Taking a Job Overseas (eFinancialCareers)
More than in perhaps any other industry, banking can provide life-changing career opportunities overseas that may simply not be available in a person’s home country. That said, taking a new position in a different country is a major life decision, no matter where you reside.
Revenue, Comp Falls at Citi (WSJ)
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Lebenthal Hiring Wealth Managers (WSJ)
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A Pressure Cooker (eFinancialCareers)
Hector Sants, former chief executive of the Financial Services Authority and recently-anointed head of compliance at Barclays, is taking a leave of absence until the end of the year because of "exhaustion and stress.”
What Makes a Great Hedge Funder (Business Insider)
“The most important things [to look for in] hedge fund managers is that they are smart and they are honest,” said legendary hedge funder Julian Robertson. “Close behind that is probably competitiveness…someone who won’t lose doesn’t lose.”
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Invesco stock plunged nearly 6% on Tuesday after its top fund manager Neil Woodford shocked the markets by announcing he is leaving the firm to launch his own fund-management business.
FBR Poaching (Bloomberg)
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Buzz Around the Office
An Oaky Meowbac (Kotaku)
A Japanese company has launched a new wine designed exclusively for cats. About time.
List of the Day: Interview Essentials
Bring these three things to every interview.
- Several hard copies of your resume.
- Only one bag.
- A professional-looking notebook.
(Source: AOL Jobs)