Like most of his fellow CEOS, Jamie Dimon expects a recession in 2023; indeed, the head of the nation’s largest bank is more bearish than many of his Wall Street peers. To prepare JPMorgan Chase for a downturn, he’s making sure the bank’s $3.7 trillion in assets are shielded as much as possible from risk: “We do 100 stress tests a week in this company,” he tells Fortune. He’s grilling his lending teams about their credit exposure. And he’s staying fully briefed on the bank’s ever-evolving cybersecurity efforts.
In tackling this to-do list, Dimon has an advantage that many other CEOs don’t: longevity. New Year’s Eve Day was his 17th anniversary as CEO at JPMorgan (No. 5 on this year’s World’s Most Admired Companies All-Stars list). With that experience, he says, comes “a deep pattern recognition. There’s no question you get more efficient.” Dimon now has the help of a time-tested top leadership team. And most important, he has developed what he calls a “common, fair culture” across a sprawling company with more than 290,000 employees. “They see you in action,” Dimon says of the bank’s workforce. “They see that what you say and what you do lines up.”
