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JPMorgan CEO to get treatment for throat cancer

Published on NewsOK Modified: July 1, 2014 at 7:54 pm •  Published: July 1, 2014
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NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon, a feisty leader who steered the banking company through the perils of the Great Recession, is battling throat cancer.

The condition is considered to be curable, according to a memo to JPMorgan Chase & Co. employees and shareholders that Dimon released late Tuesday.

Dimon, 58, said he plans to remain on the job and be actively involved in key decisions while undergoing radiation and chemotherapy treatment. The eight-week treatment will begin soon at Memorial Sloan Kettering Hospital in New York.

The cancer remains confined to Dimon's throat and adjacent lymph nodes on the right side of his neck, according to the memo.

"I feel very good now and will let all of you know if my health situation changes," Dimon said.

Despite the words of reassurance, Dimon's illness could raise leadership concerns at one of the world's biggest banks.

Those worries could be magnified by a recent succession of departures among high-ranking JPMorgan Chase executives once considered to be Dimon's potential successor. The list of defections have included former co-chief operating officer Frank Bisignano and former investment banking head Michael Cavanagh, who had been known as Dimon's "Mr. Fix-it."

JPMorgan's stock fell 37 cents to $57.20 in Tuesday's extended trading.

Dimon, JPMorgan's CEO for the past eight-and-half years, won praise for his savvy in the aftermath of the mortgage-market meltdown that nearly toppled the banking industry before miring the U.S. in its deepest recession since World War II. His reputation, though, was tarnished in 2012 by the revelation of a stunning $6 billion loss triggered by risky bets made on complex debt securities by a JPMorgan trader in London.

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