Sandy Weill comes extremely close to admitting he made a huge mistake firing Jamie Dimon from Citigroup after the merger. When it happened there was a lot of speculation about what led to this momentous event. In the second of a two-part excerpt from journalist Duff McDonald's new book, Last Man Standing, he documents in detail what happened during the fateful get-together at The Greenbrier, the luxury resort in White Sulphur Springs, West Virginia which eventually led to Dimon's downfall. Today Dimon is heading up a very healthy JPMorgan Chase as its CEO and Chairman while Citi continues to flounder.
The money quote from Weill is as follows, "I think I made a very bad decision on succession."
No comments:
Post a Comment