Jamie Dimon, CEO of JPMorgan Chase, is in treatment for throat cancer.
In a letter to employees and shareholders, Dimon, 58, said the cancer is “curable” and hasn’t spread beyond the throat and the closest lymph nodes in his neck.
“While the treatment will curtail my travel during this period, I have been advised that I will be able to continue to be actively involved in our business, and we will continue to run the company as normal,” he wrote.
Dimon, one of the most recognizable executives on Wall Street, is seeking treatment, which he said will take eight weeks, at Memorial Sloan Kettering Hospital.
Dimon has been running the US’ largest bank since 2005, when he rose to CEO from his position as president and chief operating officer.
In April, he reportedly told shareholders he doesn’t plan to leave his position for at least another five years.
Dimon gained prominence for his role in keeping his bank alive — and red ink-free — during the financial crisis in 2008 and 2009.
While Dimon credited a “fortress balance sheet” with protecting JPMorgan from crumbling, the bank also borrowed $25 billion from the Troubled Asset Relief Program.
Recognized as among the most astute CEOs in the country, Dimon has also come under fire for the so-called London Whale, when the bank lost over $6 billion in complex derivatives trading losses, as well as paid nearly $1 billion in fines.
Under his chairmanship, the bank also paid the largest banking fine in US history, $13 billion, to settle with the government for its role in the housing crisis. The bank didn’t admit or deny guilt in either case.