JPMorgan boss Jamie Dimon has throat cancer

JAMIE Dimon, CEO of JPMorgan Chase, is in treatment for throat cancer.

(FILES): This June 19, 2012 file photo shows JPMorgan Chase CEO Jamie Dimon testifying during a US House Financial Services Committee hearing on Capitol Hill in Washington, DC. Dimon announced July 1, 2014 that he was suffering from "treatable" throat cancer, and intends to retain his position as head of the bank during his recovery. "The good news is that the prognosis is excellent... my doctors said the cancer was discovered quickly and my illness is curable," said Mr. Dimon, 58, in a statement to employees and shareholders. AFP AFP PHOTO / Saul LOEB / Files

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.

Mr Dimon, one of the most recognisable executives on Wall Street, is seeking treatment, which he said will take eight weeks, at Memorial Sloan Kettering Hospital in New York .

Mr Dimon has been running the US’s largest bank since 2005, when he rose to CEO from his position as president and chief operating officer.

Cancer ... JPMorgan Chase CEO Jamie Dimon.

In April, he reportedly told shareholders he doesn’t plan to leave his position for at least another five years.

Mr 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 $US25 billion ($26 billion) from the Troubled Asset Relief Program.

Recognised as among the most astute CEOs in the country, Mr Dimon has also come under fire for the so-called London Whale, where the bank lost over $US6 billion in complex derivatives trading losses, as well as paid nearly $US1 billion in fines.

Under his chairmanship, the bank also paid the largest banking fine in US history, $US13 billion, to settle with the government for its role in the housing crisis. The bank didn’t admit or deny guilt in either case.

Originally published as JPMorgan boss Jamie Dimon has throat cancer