Jamie Dimon at the top of the industry?

July 15, 2010 | By Jim Kim

It's lonely at the top. We've noted before that the credit crunch elevated Jamie Dimon (Jamie Dimon news), the CEO of JPMorgan Chase, well above his banking executive peers. In part, he won by default. So many blew themselves up. Now that we're in the endgame of Lloyd Blankfein's tenure (Lloyd Blankfein news) as CEO of Goldman Sachs, Dimon alone rules the roost.

This is how the New York Times puts it: "The crisis cemented Mr. Dimon's reputation as a financial superstar--a bold dealmaker who buys when others are selling, a strict risk manager who resisted the type of exotic businesses that felled others and a charismatic leader who charms lawmakers and credit traders alike. He is now commonly referred to by a single name, like Pelé or Madonna."

Long-term, he still has work to do. The stock price is at the same level it was at when he took over, which is better than most banks, to be sure. The firm has been adroit with acquisitions through the crisis, and it remains for Dimon to stitch it all together. The real work will done beyond the glare. We've said it before, when the press is glowing, the PR people ought to get nervous. It may signal a high water mark, and the media can turn quickly.

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