• 03 Nov 2010 at 1:38 PM

Jamie Dimon Bids Steve Black Adieu

To: JPMorgan Employees
Date: Wed, 3 Nov 2010 1:35
Subject: A Message From Jamie Dimon

Steve Black has let me know that he would like to leave the firm early next year. I have known Steve for 30 years, and he is one of the finest and most capable executives I have ever met. Throughout our working relationship, he has always impressed me with his tremendous dedication to the firm, his candor and his strong character. He has done an outstanding job during his remarkable career at the firm.

We are very grateful to Steve for all that he has done for this company. He has helped build the world-class Investment Bank we have today. He became co-CEO of the Investment Bank in 2004, and under his leadership, J.P. Morgan rose to the top of all major global league tables, won every major industry award and doubled its revenue. He steered that business through the most challenging financial crisis of our careers and helped it emerge even stronger. I have deep respect and admiration for Steve’s partnership and have learned much from him through the years.

The best part of Steve’s legacy are the many talented people at the company he hired, developed or inspired.

Please join me in thanking Steve and wishing him the best in all of his future endeavors.


Message sent to all employees with e-mail addresses.

70 comments (hidden for your protection)
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Comments (70)

  1. Posted by haywoodjablome | November 3, 2010 at 5:54 PM

    I used to work at JPM and can tell you the guy would be a used car salesman if it wasn’t for Wall Street. Whenever he would open his mouth at a quarterly town hall meeting, my first reaction was, “who the f*ck is that idiot?”

  2. Posted by Guest | November 3, 2010 at 5:55 PM

    where is he headed?

  3. Posted by Politically Erect | November 3, 2010 at 5:58 PM

    Really, Jamie? Steve Black? Consider your motives.

  4. Posted by Guest | November 3, 2010 at 6:07 PM

    At least his daughter is hot.

  5. Posted by K. West | November 3, 2010 at 6:11 PM

    Jamie Dimon don’t care about Steve people.

  6. Posted by Guest | November 3, 2010 at 6:15 PM

    predict where he turns up…..

  7. Posted by Guest | November 3, 2010 at 6:23 PM

    a hedge fund.

  8. Posted by General Disarray | November 3, 2010 at 6:28 PM

    You used to work at JPM. He ran it. He still wins.

  9. Posted by Barack_H_Obama | November 3, 2010 at 6:31 PM

    Instead of a dot (or the lack therof) over the “i,” he used to use a small heart instead in his correspondence with me. That I’m afraid is no longer true.

  10. Posted by Anonymous | November 3, 2010 at 6:39 PM

    This completely under his own steam?

  11. Posted by Lord Humongous | November 3, 2010 at 6:42 PM

    Dude is pretty old, he may ride into the sunset

  12. Posted by tits | November 3, 2010 at 6:41 PM

    who’s the twinkle-toed cocksucker that leaked this?

  13. Posted by TitsMcGee | November 3, 2010 at 6:55 PM

    Everything points to this.

    [Fade to Black]

  14. Posted by quater--three quaters | November 3, 2010 at 7:00 PM

    Blackie was supposed to leave last year. The dude wanted out so he can drive his Ferrari’s and play 36 a day at Hudson National. JD asked him to stay on to help out with the new head of IB. This is the guy that called LEH on their repo’s, and ultimately put the bullet iin them. He’s as old school as you could get. Started trading govie’s at Solly with Meriweather. So long Blackie.

  15. Posted by Anon | November 3, 2010 at 7:02 PM

    “Message sent to all employees with e-mail addresses”

    hmm…. either there are employees at JPM without email or there are some employees dull enough to believe that this email was personally directed to them. I mean, I know they aren’t GS but I didn’t think they were BAML either.

  16. Posted by Jesse | November 3, 2010 at 7:08 PM

    Nice one Bess. Way to go.

  17. Posted by Guest | November 3, 2010 at 7:08 PM

    There is no need to censor words. C’mon, say it with me, “Fuck”!!

    Welcome to DB champ.

  18. Posted by Texashedge | November 3, 2010 at 7:11 PM

    Looks like Dimon has lost his luster

  19. Posted by Anonymous | November 3, 2010 at 7:13 PM

    So what non-BancOne guys are left in senior management now?

  20. Posted by Guest | November 3, 2010 at 7:24 PM

    he never traded govie’s at Salomon. he is Smith Barney through and through – cut his teeth in munis i believe – and was always the hatchet man for mgmt – i think he got a kick out of it – remember his memorial day massacre? that really made his year

  21. Posted by Anonymous | November 3, 2010 at 7:27 PM

    Considering the size of JPM and the amount of RE they own (think branches, cash machines, office buildings, etc.) there are probably more than a few non-white-collar employees without email.

  22. Posted by Andel1 | November 3, 2010 at 7:36 PM

    That’s right. He was Jay Weatley’s boss. I mis-remembered.

  23. Posted by Guest | November 3, 2010 at 7:52 PM

    New COMEX Related Silver Manipulation Lawsuit Includes Charges of ‘Racketeering’

    “The practice of naked short selling has long been a serious issue on Wall Street,” said Steve Berman, co-counsel and managing partner at Hagens Berman. “What we know about the scope and intent of JP Morgan and HSBC’s actions in this short-selling scheme dwarfs any other similar attempt to manipulate a commodities market.”

    http://jessescrossroadscafe.blogspot.com/2010/11/new-jpm-hsbc-silver-manipulation.html

  24. Posted by Lewis Winthorpe III | November 3, 2010 at 8:08 PM

    one of the 200,000 people that got this email? we’re not exactly dealing with military-grade clearance here.

  25. Posted by guest | November 3, 2010 at 8:23 PM

    Forget town halls…he would open his mouth on weekly risk calls and you wouldn’t have thought he was capable of running a derivative trade support group, never mind the global markets group. Winters would run circles around him. Nice guy and was always loyal to Jamie though.

  26. Posted by TruthTeller | November 3, 2010 at 8:22 PM

    Never had it to begin with. I’m calling this guy: he’s a dufus piece of shit who got lucky being a dweeb. Fuck em

  27. Posted by MooseFister | November 3, 2010 at 8:33 PM

    They prefer the term “little people”

  28. Posted by The Guest of the Guest | November 3, 2010 at 8:38 PM

    Citing to a statement by contingency, class-action lawyer is the Never Killing It.

  29. Posted by haywood | November 3, 2010 at 8:46 PM

    Actually, the day I quit JPM was the best day of my career

  30. Posted by haywood | November 3, 2010 at 8:49 PM

    The guy literally doesn’t understand what a derivative is. The only thing he knows is 5 cents a share commission

  31. Posted by Anonymous | November 3, 2010 at 8:51 PM

    I have no idea what you are talking about.

    -Bunker Hunt

  32. Posted by Pops McStocktip | November 3, 2010 at 9:18 PM

    Back in those days we used to walk uphill both ways to work. And we liked it. You kids these days and your rap music…

  33. Posted by Guest | November 3, 2010 at 9:41 PM

    Me too. I left JPM for much greener pastures. They took a perfectly running franchise, Bear Energy LP, and f*cked it up beyond recognition.

  34. Posted by Jimmy | November 3, 2010 at 9:43 PM

    You sound poor.

  35. Posted by Annika | November 3, 2010 at 10:13 PM

    Ditto

  36. Posted by Guest | November 4, 2010 at 1:45 AM

    of all the stuff DB gets– hf letters no one does, SAC shit, lloyd blankfein sex tapes– THIS is the thing you’re demanding to know who leaked? really? this?

  37. Posted by Guest | November 4, 2010 at 1:47 AM

    “there are some employees dull enough to believe that this email was personally directed to them. ”

    or you’re leaving a comment dumb enough to think anyone thinks this email was personally directed at them, considering the thousands of people who ‘with email addresses.’

  38. Posted by Anon | November 4, 2010 at 1:34 PM

    Well who the fck doesn’t have an email address? Even tellers have email addresses and so given everyone at that bank should have one, what’s the point of that disclaimer other then to assure people it wasn’t “just for them”? Are we now just writing shit for the sake of writing shit?

    You have a negative attitude. That’s what’s stopping you.

  39. Posted by guest | November 3, 2010 at 5:58 PM

    hasn’t said.

  40. Posted by guest | November 3, 2010 at 5:58 PM

    hasn’t said.

  41. Posted by anon | November 3, 2010 at 5:58 PM

    you sound like a classy dude.

  42. Posted by anon | November 3, 2010 at 5:58 PM

    you sound like a classy dude.

  43. Posted by anti DB | November 3, 2010 at 6:18 PM

    big Bucks Automotive

  44. Posted by anti DB | November 3, 2010 at 6:18 PM

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  45. Posted by Anon | November 3, 2010 at 6:23 PM

    sweet signature, J.

  46. Posted by Anon | November 3, 2010 at 6:23 PM

    sweet signature, J.

  47. Posted by Lord Humongous | November 3, 2010 at 6:44 PM

    When they canned Bill Winters a year ago and installed Jes Staley as the new head of IB, they put Black in an emeritus position. I’m sure this was all planned out back then.

  48. Posted by Lord Humongous | November 3, 2010 at 6:44 PM

    When they canned Bill Winters a year ago and installed Jes Staley as the new head of IB, they put Black in an emeritus position. I’m sure this was all planned out back then.

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