JPMorgan CEO Jamie Dimon on mentorship and ‘the need to keep the Western world together economically’

Damon talked to luck Editor-in-Chief Alison Shontell on topics ranging from artificial intelligence to blockchain, which you can read about here and here. Speaking of a fascinating quarterly report, the bank president explained artificial intelligence, gold, regulation, jobs, tariffs, debt, government waste, the New York mayoral race, and “the need to hold the Western world together economically.” You can check out the full interview here.

Here’s what I took away from the audience, when it comes to Damon’s mentoring approach:

Bet on the winners: Dimon helps people who have earned his respect and trust, whether it’s hiring people like Miller at multiple companies or advising Duckett during her inaugural year as CEO of TIAA. This instinct isn’t limited to women: Wells Fargo’s Charlie Scharf comes to mind. Damon says he is guided by performance, not sex or loyalty. In his view, to do otherwise is a disservice to the team.

Share your network: Lisa Caputo met Damon after he was fired from Citigroup and she had just arrived there. As she said yesterday: “I was trying to build a women’s business from scratch. Every time Jamie called me, he would give me the names of three people to talk to within the company, and he would also ask me what I had learned so far. Through my conversations with him, he would literally help me shape what the business model could look like.”

Exceeding the limits: Anyone launching a $1.5 trillion initiative is pursuing a purpose beyond their own company. After nearly two decades as CEO, Dimon expects ambitious people to leave the company. Part of his job is to help good people become better leaders wherever they go. The world needs more of them. Relationships are important. Having friends in far away places helps the leader learn.

Connect with the CEO daily via Diane Brady at diane.brady@fortune.com

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Markets

Standard & Poor’s 500 futures It rose 0.47% this morning. The index closed down by 0.16% in its last session. Stokes Europe 600 It rose 0.53% in early trading. FTSE 100 index in the United Kingdom It decreased by 0.31% in early trading. Japan’s Nikkei 225 It rose by 1.76%. China CSI 300 It rose by 1.48%. South Korea Cosby It rose by 2.68%. India stylish 50’s It rose by 0.76% before the end of the session. Bitcoin It was up to 112.9 thousand dollars.

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CEO Daily is compiled and edited by Joey Abrams and Jim Edwards.

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