Jamie Dimon hates consultants

Dimon is vocal about his antipathy toward much of the consulting used by large corporations today, with the notable exception of McKinsey & Co.

“It’s substitute management,” he says.

“A Good Housekeeping seal of approval. It’s political, so if you make a decision you can say, ‘It’s not my fault, it’s their fault.’

I remember at Citigroup when we hired a consulting firm to do a study about how our capital was deployed. I thought, ‘What is wrong with us? Shouldn’t this be the job of management? Shouldn’t we understand capital?’

I do think consultants can become a disease for corporations, and I don’t say that lightly, because I really do believe it.

We do still use smart people to do consulting for us. But it has to be with a very senior person and there is no phase two. By that, I mean at the end of the project, I have the brain and they have the money. I don’t need anyone to implement anything.

That’s a joke. You can’t have outside people implement stuff inside companies. It doesn’t work. And by the way, if that’s going on, what the hell are your own people doing?”

from Duff McDonald's 'Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase'
https://www.amazon.com/dp/1416599541/ref=cm_sw_r_tw_dp_x_at1fAbHC49912