Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase [Hardcover]

Duff McDonald (Author)

Book Description

Publication Date: October 6, 2009

In the midst of this disastrous economic climate, one executive has weathered the storm more deftly than any other: Jamie Dimon, chairman and CEO of JPMorgan Chase, considered the dominant fi gure on Wall Street. Dimon's eleventh-hour acquisition, in 2008, of fl ailing archrival Bear Stearns stunned the world. Even more incredible: JPMorgan's continued success in the face of an industry-wide meltdown that has seen its CEO become a paragon of finance.

In Last Man Standing, award-winning journalist Duff McDonald chronicles Dimon's tumultuous rise: from his joining the legendary Sandy Weill at American Express fresh out of Harvard Business School to their building of Citigroup (and Dimon's unceremonious ouster) to his rescue of Bank One and, at the unprecedented age of forty-eight, his ascension to the top post at JPMorgan Chase -- a bank he transformed from a broken institution to the sine qua non of global banking in five short years.

Upon gaining unfettered access to Dimon, McDonald spent countless hours interviewing him and his full circle of family, friends, and colleagues to provide an unprecedented and deeply personal look at this extraordinary figure. Moving beyond Dimon's "fortress" balance sheets, McDonald reveals a dedicated family man whose uncanny facility with numbers and tireless work ethic are complemented by fierce loyalty and an unrelenting aversion to offi ce politics. Dimon, for the first time, shares detailed insights on the heart of his business and management philosophies, and industry titans such as Weill and Warren Buffett offer their analyses of his career.

At a time when Dimon's competitors watch their companies crumble, JPMorgan not only continues to weather the worst period in the history of Wall Street but is growing by leaps and bounds. The defi nitive biography of Jamie Dimon, Last Man Standing is by far the most comprehensive portrait of the only man in finance today who can be called an American hero.

Editorial Reviews

Review

"An intimate . . . three-dimensional portrait of the executive, with lots of reporting from his friends and family."

--Mara Der Hovanesian, "BusinessWeek"

About the Author

Duff McDonald is a New York-based journalist. A contributing editor at New York magazine, he has also written for Vanity Fair, GQ, WIRED, CondÉ Nast Portfolio, and Time, among other publications. Once a regular guest on ABC's World News Now, McDonald has also appeared on CNN, CNNfn, Fox News, CNBC, and NPR. In 2004, he was the recipient of two Canadian National Magazine Awards—Best Business Story (gold) and Best Investigative Reporting (silver)—for “The Black Watch”—in National Post Business. A Canadian, McDonald lives in Bronxville, New York, with his wife, Caroline, and daughter, Marguerite.

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Product Details

• Hardcover: 352 pages
• Publisher: Simon & Schuster; First Edition edition (October 6, 2009)
• Language: English
• ISBN-10: 1416599533
• ISBN-13: 978-1416599531
• Product Dimensions: 9.2 x 6.3 x 1.3 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.8 out of 5 stars  See all reviews (31 customer reviews)
• Amazon Best Sellers Rank: #323,213 in Books (See Top 100 in Books)

More About the Author

Duff McDonald is a New York-based journalist. A contributing editor at New York magazine, he has also written for Vanity Fair, GQ, WIRED, Condé Nast Portfolio, and Time, among other publications. Once a regular guest on ABC's World News Now, McDonald has also appeared on CNN, CNNfn, Fox News, CNBC, and NPR. In 2004, he was the recipient of two Canadian National Magazine Awards--Best Business Story (gold) and Best Investigative Reporting (silver)--for "The Black Watch"--in National Post Business. A Canadian, McDonald lives in Bronxville, New York, with his wife, Caroline, and daughter, Marguerite.

Customer Reviews

Most Helpful Customer Reviews

22 of 23 people found the following review helpful:

5.0 out of 5 stars Fascinating - and flattering - profile of financial power, October 12, 2009

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
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This review is from: Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase (Hardcover)

Duff McDonald's book covers a fascinating historical moment - the 2008-2009 Wall Street debacle - by profiling a pivotal character in the thick of it, Jamie Dimon, CEO of JPMorgan Chase. Having spent extensive time with Dimon, McDonald combines his reporting with published sources, Dimon's own writings and statements, and interviews with his associates, employees or relatives. McDonald covers Dimon's youth, business school education and evolving career. Dimon was a nonconformist in business school and politics, an astute lieutenant of his mentor Sandy Weill, and a pivotal figure in the financial crisis. Notably, he preserved JPMorgan Chase, bought Bear Stearns and helped lead the market back to stability. Readers interested in a critical take on Dimon may find the book too flattering, but if you want to see how the financial wars looked from the CEO's chair, getAbstract recommends this intriguing perspective.

17 of 20 people found the following review helpful:

5.0 out of 5 stars The Definitive Account, October 1, 2009

By 

Daniel Briody "Dan Briody" (Connecticut) - See all my reviews
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This review is from: Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase (Hardcover)

This is a terrific book, beautifully written, and highly useful. If you want to really understand the banking business, and the people that make it work, this is the book to read. And it's not just for Wall Street insiders. And it's not a vanity piece for a banker on top of his game. This book has specific relevance to anyone who pays taxes in this country or has a bank account. McDonald had unprecedented access to Dimon and and he nailed it. Great book. Loved it.

28 of 35 people found the following review helpful:

5.0 out of 5 stars Only the first of many chapters yet to be written about Jamie, October 8, 2009

By 

Thomas II "Tom" (Chicago, IL USA) - See all my reviews

Amazon Verified Purchase

This review is from: Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase (Hardcover)

There will be obvious bias in this review. I have been with the bank for over 12 years. Having met Jamie on a couple of occasions, his attention to detail blows my mind. Years ago, I was invited to participate in a focus group soon after Jamie took over as CEO of B1. We were at a conference room on the executive floor throwing around some ideas, "best practices". A day before, we had some system issues. During our meeting, Jamie walked in and briefly listened in on our meeting. He asked the group about the system issue and whether or not it was causing any customer service quality issues. He cared. I was fortunate to meet him on a couple of more occasions. Each time, I walked away more inspired. He has that effect on people. His drive and determination is infectious. You just want to sit there, listen to him; then, go back and try even harder. As a top executive, he never seems to look down or turn his back on the junior soldiers in the company. He cares. He listens. He motivates and inspires.

It's a good feeling working for a company where what I do everyday for our clients (despite being just 1 out of over 200,000) actually matters. No one here is insignificant. And every detail, every employee, matters. And that's a healthy culture for any business to have. I am proud to be part of this great company; proud of our leader and our management team's diligent handling of our bank's financial affairs; proud to have been able to help our clients during a very difficult period for our country.

Duff's account of Jamie's career is a must read for any aspiring manager/leader. From his detailed account of Jamie's early career to the more recent events, this book is an easy, addictive read. It's hard to put it down. Great job researching the stories, issues and conducting interviews. In the aftermath of this complex system meltdown, it is refreshing to read a book in which complex financial issues can be easily understood by anyone. Strongly recommended.