Because no one in their right mind would take that job. He was the last resort.
16 replies (most recent on top)
The US empire like Charlie and Co has fallen for the classic divide and conquer. NO class cohesion, no chance in heck to overcome or alter or at least reign in Statist/Corporate/Finance hyper capitalism strength. Onward and downward.
He and his band played a gig at a party hosted by one of the board members. After the show he was rubbing elbowing with a few executives while sipping on a White Claw. The rest is history!
He worked at Chase so they said “hired!”
They made him an offer he couldn’t refuse
We didn't have an official human CEO before the current. We hired a chimp to sit in the CEO chair and smoke cigars, we paid him with bananas. Charlie being the di-k he is went to all the grocery stores in town and bought up all the bananas. The chimp didn’t take cash just bananas so he walked.
I believe it was a panel behavioral interview and they had to make sure there was a diverse slate of applicants.
No one else wanted the 22 mil per year gig. How can you blame them?
A favor.
I work with BNY Mellon as third party vendor and it's "let's ask India developers the question" and it takes weeks to get an answer. Charlie's game changing strategy to increase value by shipping all jobs to cheap labor countries.
I do not kid. A person in US sends email question to group in India. We follow up 100 times and person in US sends another email to group in India. Rinse/repeat - "India developers are looking into it"
This non sense can go on for months.
He was not the only person who was approached for the job. Simply, he was the only one who did not say "no" to the job.
We have a habit of doing this.
Don't you all remember our previous CISO G.O.? He was like the banks last choice. Everyone else ran for the hills and G.O. was the only one who took it.
Piggy backing.
That's it, for sure.
There is a good article out there describing Charlie's move to the top. Basically, he became Jamie Dimon's personal assistant when Jamie was in Finance at a predecessor firm. Then he just kept piggy backing. I believe he got the original role through his father who was an FA at the time. Definitely a who you know moment the day he graduated college
he was already CEO at other companies and the only one willing to take the job
He was supposed to have the political clout with DC to get the asset cap lifted quickly.
He doesn't have the clout. The cap is still in place and will be for years to come.
Family connections, marriage, fluff and schmoozing
His father in law is good friends with every single board member.