Client Affairs

JP Morgan Chief Executive Informs Staff, Shareholders Of His Curable Cancer

Tom Burroughes, Group Editor, July 2, 2014

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The chief executive of JP Morgan, Jamie Dimon, has been diagnosed with throat cancer and will go through treatment for a period of eight weeks. His form of cancer is curable, according to media reports.

The chief executive of JP Morgan, Jamie Dimon, has been diagnosed with throat cancer and will go through treatment for a period of eight weeks. His form of cancer is curable, according to media reports.

“I wanted to let you know that I have just been diagnosed with throat cancer,” Dimon is reported to have told staff and shareholders in a note yesterday. “The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable.”

The announcement was issued shortly before he was due to travel to Europe where he was to meet Greek and Italian prime ministers as well as make trips to Spain, Germany and England. He has cancelled the trip, the Financial Times reported.

“While the treatment will curtail my travel during this period, I have been advised that I will be able to continue to be actively involved in our business, and we will continue to run the company as normal,” Dimon said in his note. “Our board has been fully briefed and is totally supportive.”

Dimon has been chairman and CEO since 2006 – the dual role has been criticized with calls for it to be split.

Although the bank was seen to have emerged in some ways stronger from the 2008 financial market turmoil, events in more recent times have been difficult for this blue-blooded firm, such as the bank’s large legal settlements concerning mortgage-backed securities and a payout linked to the Bernard Madoff scandal.

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