Wall Street’s most powerful boss has revealed the one thing he refuses to do at the end of the week, and a growing number of top CEOs are now following his lead.
Jamie Dimon, head of JPMorgan Chase, said he does not make any business decisions on Fridays, warning that being tired can lead to costly mistakes.
‘I’ve learned some stuff like when I was 30, like anger doesn’t help,’ the CEO said during an interview with NPR. ‘Making big decisions on a Friday when you’re tired is a really bad idea.’
The veteran banker – who has spent more than four decades on Wall Street – described it as one of several ‘lessons learned and relearned’ during his career. ‘I still make some of those mistakes, unfortunately,’ he added.
Just days prior, Dimon doubled down on employees returning to the office, claiming that time away from home is essential for the ‘apprentice model’ of banking.
This comes after over 2,000 employees signed a petition responding to JPMorgan’s decision to eliminate remote work for its 300,000 global staff.
Some took to social media, sharing their outrage at the ‘out of touch’ decision.
‘This guy just pretends to care,’ one Reddit user said. ‘Returning to office isn’t going to fix the bag Chase is holding.’
JPMorgan Chase CEO Jamie Dimon does not make business decisions when is ‘tired’ on Fridays
‘People need to be allowed to work from home,’ another Reddit user wrote. ‘It reduces stress for those of us who have to go in person. It reduces pollution, it saves money for the people and the city on road repairs. I can’t stand idiots!’
Dimon wouldn’t be the only business titan making time for self-care.
Southwest Airlines CEO Bob Jordan keeps his calendar free of meetings every Wednesday, Thursday and Friday afternoon.
‘It’s easy to confuse busyness and going to meetings with leadership,’ he added during the New York Times’ DealBook Summit. In lieu of meetings, Jordan suggests ‘thinking about what’s important right now.’
United Airlines CEO Scott Kirby follows a similar line of thinking. The leader recently revealed that he takes a mid-afternoon nap every day – and does not make any decisions without one.
‘If I take a 20-minute nap, I’ve accomplished more than anything else I would have accomplished in that time,’ he said. ‘When you’re tired, your brain is not 100 percent. If you’re not 100 percent, you shouldn’t be making decisions.’
Airbnb CEO Brian Chesky completely banned 9am meetings from his calendar – the earliest the online marketplace co-founder will meet is 10am.
‘When you’re CEO you can decide when the first meeting of the day is,’ he said during an interview with the Wall Street Journal.
Chase is one of the biggest financial institutions in the world, with more than $4 trillion in assets under management
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Dimon beginning his finance career over 40 years ago, starting as an assistant to then–American Express president Sandy Weill and eventually working his way up to his role with Chase.
Dimon has been the CEO of JPMorgan Chase since December 2005, making him the longest-tenured head of a major Wall Street bank.
Last year, the executive raked in a staggering $770 million, according to disclosure documents.
JPMorgan Chase is the largest financial institution in the US with over $4 trillion in assets under management.
