Jamie Dimon gave out career advice

Jamie Dimon

Eric Cantor sat in his Washington office in June after one of the biggest upsets in congressional history, getting encouragement from JPMorgan Chase’s Jamie Dimon, head of the largest U.S. bank.

Bloomberg News reports that Dimon talked about getting fired from another bank by his mentor before rebounding to an even better seat, according to two people who were there. He reassured the Virginia Republican that his career would be just fine, too.

He was right. Cantor, 51, started this month as a managing director and vice chairman of New York-based investment bank Moelis & Co., where he’ll earn more than $3.4 million by the end of next year.

With former White House officials and a Tea Party spokesman calling Cantor a sellout, half a dozen people close to him described his new Wall Street life as an extension of his principles rather than a betrayal of them. They cite a fascination with finance that goes back years before he became House majority leader, a conviction that bankers drive the economy and an enthusiasm for helping them do it better.

Hit the link below to access the complete Bloomberg News article:

Dimon Pep Talk Consoles Eric Cantor on Way to Wall Street

Hedge Fund Northwest Sees China’s Stock Link Boost Inflows

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts