JPMorgan may be one of the world's largest and most prominent financial institutions, but that doesn't mean CEO Jamie Dimon can't loosen up and have a few drinks once in a while, especially after a long day of making tough decisions that affect the health of the world financial system. He is a man, after all. "He said: If we made the wrong decision, I'll go home, I'll have a couple of martinis, I'll wake up the next day and we'll come back," Dimon's former deputy Ron Seiffert tells Bloomberg Markets this week, of a tough decision the CEO made to extend credit to faltering airlines in the wake of 9/11. More recently, the first thing he did when he got home from the emergency, all-hands-on-deck meeting at the Federal Reserve Bank of New York in 2008, according to Too Big to Fail, was mix himself a martini. And on Friday afternoons, you couldn't tell the corner office at 270 Park Avenue from Don Draper's on Mad Men.
Dimon doesn’t always play the role of F-word-slinging tough guy. Executives, including junior managers, whose work catches his attention might get invited to sip wine in his office after markets close on Friday afternoon, current and former employees say. It’s a tradition begun under Weill, when Dimon was his chief of staff at American Express.
And this week, what with yesterday's news of a pending SEC investigation and today's article detailing the $74.8 billion in nonperforming home loans the bank inherited from Washington Mutual, they might get the F-word and wine. Is it Friday yet?