SACO, Maine — JPMorgan Chase CEO Jamie Dimon sat below a tent outdoors the native department right here on Thursday, listening to worker suggestions on the financial institution’s operations in Maine, with temperatures within the 90s.
The staff have been simply as direct because the plain-speaking Dimon, who is understood for strolling right into a department and speaking to a buyer or pulling apart an worker on the workplace and getting suggestions.
The top of the nation’s largest financial institution realized about methods to make his enterprise higher in his first go to to the Saco department.
“I realized a bunch of issues that we don’t do significantly nicely,” he stated. “I heard one horrible story, and we’re caring for it now.”
Dimon visited Maine on an annual bus tour with different managers to go to native branches and work together with staff. A part of the journey was to announce the financial institution’s growth in New England, together with including two branches to the prevailing 4 in Maine by 2025.
The primary is deliberate in Yarmouth in 2024 and the situation of the second has not been introduced. It already has branches in Saco, Portland, Falmouth and Westbrook.
Dressed casually in denims and a blue polo shirt, Dimon stated it is vital for administration to go to staff and hearken to them, whether or not or not it’s a few test taking too lengthy to clear or a buyer being on maintain too lengthy.
“We’re going to search out out what occurred after which we are going to go repair stuff,” stated Dimon, a local of New York Metropolis who spent the early morning strolling round Portland’s Outdated Port and referred to as it “terrible cute.”
It was the kind of one-on-one time you won’t anticipate of the chief of a world firm with 250,000 staff. However that kind of private interplay is the place Dimon says he will get concepts to enhance operations and what has given him the repute as an influential, stellar supervisor.
The storied New York-based financial institution entered Maine 4 years in the past, nevertheless it already has 200,000 client prospects, practically 7,000 enterprise prospects, 4 branches and eight ATMs. It additionally has 11 branches in Massachusetts, 5 in Rhode Island, 4 in New Hampshire and two in Vermont.
With $3.74 trillion in property in 2021, it’s magnitudes bigger than the 2 largest Maine-based banks, with Bangor Financial savings Financial institution having $6.18 billion in property and Camden Nationwide Financial institution having $5.5 billion.
The financial institution can compete with its digital merchandise, bank cards already utilized by Mainers and its means to assist companies increasing abroad, stated Doug Petno, CEO of JPMorgan’s business financial institution.
“Now we have a breadth of options that may give prospects peace of thoughts,” he stated.
Peace of thoughts is essential to Dimon as nicely. He has been described as “the hardest man on Wall Road” and “America’s least-hated banker,” the latter by the New York Occasions lauding his management for maintaining the financial institution worthwhile and persevering with to supply credit score throughout the Nice Recession.
Dimon considers himself extra of a Ted Lasso kind of supervisor, referring to the Apple TV present about an American soccer coach employed to handle a British soccer crew who makes use of optimism and dedication to fill in for his lack of know-how.
“I actually need my legacy to be that I made the world a greater place whereas I used to be right here, and that’s it,” Dimon stated. “That individuals trusted and revered me and I gave it my finest and left all of it on the sector.”