JP Morgan boss Dimon brings in his father Ted

JAMIE Dimon, chairman of JPMorgan, has hired his father to join the investment bank as it seeks to expand its private client broking business.<br /><br />Private banker Theodore &ldquo;Ted&rdquo; Dimon, 78, will quit Bank of America Merrill Lynch to join Bear Stearns Private Client Services, now part of JP Morgan since it rescued Bear Stearns in March last year. Dimon senior will join along with his team of five private client brokers.<br /><br />The extraordinary move comes just days after Dimon junior announced plans to recruit up to 1,000 industry-leading brokers to the Wall Street institution. Ted Dimon spent 30 years as a broker for Citigroup and other banks run by Sandy Weill, his son&rsquo;s one-time mentor, before joining Merrill Lynch in 2006.