Jamie Dimon shared the one characteristic he says sinks CEOs
JPMorgan Chase CEO Jamie Dimon argues that insecurity, rather than arrogance, is the primary trait that causes leaders to fail. He suggests that effective leaders must be comfortable with not knowing everything and avoid surrounding themselves with 'yes-men' to maintain organizational health.
Why it matters
Dimon's perspective offers insight into corporate leadership dynamics and the psychological challenges of managing large-scale institutions.
Jamie Dimon, who has run JPMorgan Chase since 2006, says the best leaders are "not embarrassed by not knowing." Bloomberg/Getty Images Jamie Dimon warned on a podcast that insecurity, not arrogance, is a leader's biggest enemy. He says he leaves every board meeting so the board can meet without him. Humility is a characteristic he looks for when promoting people. Jamie Dimon has watched executives rise and fall for decades. The trait that sinks them, he says, isn't the one you'd guess. The JPMorgan boss says it isn't arrogance that ruins leaders, it's insecurity. And the warning signs are flattery, friendly hires, and glossy PowerPoints. "When some people get a big job, some grow into it, and some swell into it," the JPMorgan Chase CEO said on "The Master Investor Podcast with Wilfred Frost." What drives the swelling, in his view, is insecurity.
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