"They said they wanted to make a few changes [and] had three of them: 'One, we want to make this person in charge of that.' I said OK, well that didn't make sense to me. The second one, they wanted to put someone in charge of the global investment bank which I was running, I thought it was another stupid decision. And the third they said 'And we want you to resign.'"
"The younger one says: 'Daddy, do we have to sleep on the streets?' I said 'no, no, we're OK.' The middle one, who was always obsessed with college for some reason, said 'Can I still go to college?' I said yeah. And the oldest one said: 'Great, since you don't need it, can I have your cell phone?'"
"It was like being at your own wake. And there's one really tall guy who came in, a very good friend of mine, and my daughter looks up and says: 'Who are you?' and he says 'I work for your daddy.' And she said: 'Not anymore you don't.'"
In 1998, Jamie Dimon was unexpectedly fired from Citigroup by Sandy Weill and John Reed. Called away from hosting candidates at his apartment, Dimon was informed of three structural changes, the third being his resignation. He recognized the decision was final when told the board had already voted and the press release was prepared. Returning home, he informed his three daughters of his termination. Their reactions ranged from concern about homelessness to indifference, with his oldest daughter requesting his cell phone. That evening, approximately 50 senior bank managers gathered at his apartment to mark his departure, creating what Dimon described as attending his own wake.
Read at Fortune
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