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Jamie Dimon Would Sell Bank One Again

Jamie Dimon Would Sell Bank One Again

Jamie Dimon said he would sell Bank One again if presented the opportunity. The JPMorgan Chase CEO’s 2004 sale of Bank One to JPMorgan was the start of his rise to the top of the banking industry. Dimon said his 2004 decision to sell Chicago’s largest bank was the right one because JPMorgan’s broader portfolio shelters it from market fluctuations better than the old Bank One would have, Crain's Chicago reports. Prior to the interview, Dimon addressed a group of bankers at an Executives’ Club of Chicago luncheon, where he set his sights on Sen. Elizabeth Warren, one of his more vocal critics. Dimon said he isn’t sure the Massachusetts senator, a frequent critic of “too big to fail” banks, “fully understands the global banking system.” [CC]