Jamie Dimon has reportedly been considered for a knighthood by Rishi Sunak
With JPMorgan boss Jamie Dimon announcing a quit the top job at America’s largest bank over the next five years, there’s a lot of speculation about what he’ll do next.
Wherever he goes – wherever it is to Chairman of the board at JPMorgan or one much speculated career in politics—Dimon may have added “Sir” before his name.
That’s because the British chancellor, Rishi Sunak, is said to have brought it up Wall Street veteran move forward to be honored. The UK’s honors system includes three types of awards, recognizing achievement or service across a variety of industries and endeavours.
Three types of awards – medals, decorations and medals – form a tradition that dates back to the 12th century.
A knight, that Financial Times reported that Dimon was likely to have been nominated, which is the highest rank in the ‘Most Excellent Order of the British Empire’.
If the 68-year-old chooses to accept the title, he can add “Sir” in front of his name. The female equivalent is a lady, among them actors Dame Maggie Smith, Dame Helen Mirren and Dame Judi Dench.
An honor for former Google boss Eric Schmidt?
Dimon, who gets paid A record $36 million for his work in 2023is not the only American likely to be honored.
Billionaire Eric Schmidt, former CEO of Google, is also said to be on Sunak’s nomination list.
Schmidt—who is worth $25 billion according to Forbes—led Google from 2001 to 2011 and served on the board of Alphabet, the Big Tech giant’s parent company, from 2001 to 2019.
Both Dimon and Schmidt are U.S. citizens and thus the nomination of Sunak—who is currently fighting for an election to remain at 10 Downing Street—has been transferred to the Foreign, Commonwealth and Development Office (FDOC), according to FT.
The process is said to have begun in mid-May.
The honors added to the honors list fall into three categories: New Year honors, birthday honors of the sovereign and resignation honors of outgoing prime ministers.
FDOC, the cabinet office, the Conservative Party and the UK honors system did not immediately respond to the request. luck Request comments. JPMorgan declined to comment.
Specifically for British politics, sources also provided critical summaries of the nomination report.
One of Sunak’s ministers told FT Dimon is a “strong candidate” for knighthood, while another individual close to the Conservative Party leader denied the reports and said no such process has begun.
About the system
Although Sunak can put nominees on the honor roll, appointments must still be approved by King Charles.
Nominations are filtered through a series of independent committees within the Infrastructure honor system.
Anyone can be nominated by the public to receive the award, although the prime minister will give “direction” on the direction of the list.
In 2023, Sunak set out what he would like to see the system focus on, including “the entrepreneurs and innovators who create thriving businesses and deliver growth across the country”.
Emphasis is also placed on charity, education, crime reduction and healthcare.
Although the prime minister and those in authority have an important role to play in this process, there are also series of subcommittees assigned the task of monitoring many different categories.
These agencies are divided into a main committee, as well as 10 groups focusing on everything from services to the arts, economics to parliament and public affairs.
Once an individual is approved for honor, they still do not necessarily accept it.
For example, Irish DJ and broadcaster Annie Mac declined an MBE in 2022.
Talk to Patrick Kielty above ‘The Late Late Show’ earlier this year, Mac explained: “It’s great to be recognized for services to broadcasting—I don’t want to sit here and be pompous—it’s really great.
“But I have a problem with that language. It’s quite crazy, it’s like something from another century… like: ‘We want to make your name an Honorary Member of the Distinguished Order of the British Empire.’ It’s 2022 guys, what language is this? And I don’t want anything to do with the British Empire either, I studied history at school, I know about that. If they change the language, I will happily accept it.”
Honorable tradition in it The earliest form began in 1328, established by King Edward III of England called the Order of the Garter. Since then, a number of awards, orders, medals have been added.
Titles are also possible stripped from the individualfor reasons such as criminal convictions and “discrediting the honor system.”
