Jamie Dimon, CEO of JP Morgan, has written an extensive letter to staff and shareholders and it's quite the read, covering everything from US domestic and foreign policy, immigration and culture wars, as well as offering some tips for management.
Among the key messages was a call to stamp out poor meeting etiquette, with Dimon branding the act of reading emails or texts during meetings as “disrespectful” and a waste of time. His annual letter, widely read across the financial and business community, doubles down on the importance of focus, attentiveness, and direct communication.
Dimon said that if a meeting is necessary, it should matter - and should mean full engagement. “I ALWAYS do the pre-read. I give it 100% of my attention,” he wrote, also expressing frustration with staff distracted by external notifications during key discussions.
He also shared management advice around leadership clarity and follow-through, including writing personal memos, avoiding jargon, keeping personal follow-up lists, and encouraging clear communication up and down the chain. “Don’t hoard facts. The facts don’t lie,” he added.
Jamie Dimon letter on culture and leadership
Beyond etiquette, Dimon’s letter touches on leadership behaviours, workplace culture, and broader organisational values. He urged managers to create an environment where feedback and dissent are welcomed and not stifled, and denounced the idea of “staying in your lane” as a “bureaucratic, stupid direction,” arguing that many of the bank’s biggest missteps stemmed from silence or fear of speaking up in the right forums. “There’s nothing wrong with disagreement. Ever,” he said.
Dimon also advocated for recognition as a cultural cornerstone, citing lessons from former Yum! Brands CEO David Novak and (get this) the TV show Ted Lasso as key influences in learning to value others’ contributions.
In a more personal example, he recounted reversing a decision to outsource the bank’s security staff after learning it had cut their benefits.
“I learned that the company’s security guards had been outsourced – to save money. But after outsourcing, the same guards continued coming to work every day at the same salary, and I wondered, ‘How could this be?’ The reason we were saving money was because the benefits were cut in half for the guards and their family members (currently worth more than $19,000 a year), and the savings were split with us. This was a heartless thing to do – and the second I found out, I reversed the decision”.
Dimon closed the letter by inviting all employees to email him directly with ideas, concerns, or “stupid stuff we do,” pledging to follow up personally. His message: bureaucracy can be challenged, and culture is built not through slogans but through action.
Oh, and get back to the office.