Jag = The World
Meet = A Friend
The Sikh names are chosen in a formal ceremony and gathering where the first letter or part of word from a random (or destined) page from Guru Granth Sahib is used as the starting letter for the baby's name.
In the holy scripture of Guru Granth Sahib, the word Jagmeet appears at several places. At certain instances, the word Jagmeet has been referred to as God himself, the reason being that only GOD can be considered the best friend of a person and is a friend to the whole world.
However, in the context of a name of a person, Jagmeet, just means a person who is friendly to the whole world. Sikh people are extremely humble by nature and do not consider themselves to be God. Even the Sikh Gurus did not proclaim themselves to be God.
Sometimes, a variant Jagmit is used instead of Jagmeet. Using the letter 'i' instead of 'ee' does not alter the meaning of the name, and both these words sound phonetically same as they are transliteration of the same Hindi or Punjabi word in the English language
Mark: Yeah. Jagmeet is his first name.