Marketplace Lending Power 20

#6. Jamie Dimon

Chairman & CEO, JPMorgan Chase & Co. 

 Jamie Dimon Jamie Dimon, chairman and CEO of JPMorgan Chase, upended the FinTech world last year when he teamed up with On Deck Capital’s CEO Noah Breslow to launch a major small business lending initiative. As Forbes put it, you can’t call it alternative lending anymore when the biggest bank in the country is involved with a major marketplace lender like OnDeck, which has lent more than $3 billion to small business owners since its founding in 2007. Jamie Dimon said he formed this strategic partnership because it lets his bank do “the kind of stuff we don’t want to do or can’t do.” The smaller FinTech loans run, on average, about $100,000 to $200,000, and the rates tend to be much higher than traditional business loans. Dimon brings Chase’s longtime relationships and lending to OnDeck’s acclaimed technology platform, which speeds up the borrowing process appreciably—something that small business owners seek. Early in 2016, Dimon also bought 500,000 shares of his own company for $26 million to boost his bank’s shares, which had fallen as the year got underway for various reasons. He stepped up to the plate and put his money where his mouth is—something he’s never been afraid to do, as his public comments over the years have proven, particularly before Congress. Dimon’s been the president and CEO of JPMorgan Chase since 2005 and chairman of the board since 2006. Previously he was chairman and CEO of Bank One Corporation until its merger with JPMorgan Chase in 2004. He graduated from Tufts University and received his M.B.A. from Harvard Business School, where he is on the board of directors. He’s also on the board of trustees of New York University School of Medicine. To many people, Jamie Dimon embodies Wall Street, so when he speaks, markets listen.


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