JPMORGAN CHASE Essay

JP Morgan Chase is a leading player in the global financial services: JPMC has operations in over 100 countries and serves various customers, businesses, institutions and government clients. JP Morgan Chase has strong liquidity and capital. According to annual report 2016, the capital ratio has reached to over 15%, far more beyond the Basel

J.P. Morgan started his banking career in 1856 in his father's bank in London, but moved a year later to New York City to work at the banking house of Duncan, Sherman & Company. From 1864-1871 Morgan was a member of Dabney, Morgan & Company. In 1871, he partnered up with Anthony Drexel a Philadelphia banker to form a private merchant banking partnership in New York, called Drexel, Morgan & Co that would later become the most powerful investment bank in the world with access to the world's principal money centers. In 1895, it became J.P. Morgan & Co., and had close ties with Drexel & Co. of Philadelphia, Morgan, Harjes & Co. of Paris, and J.S. Morgan & Co. (after 1910 Morgan, Grenfell & Co.), of London. (J.P. Morgan Chase, 2007).

In spite of this abhorrent cupidity, JPMorgan Chase & Co stands firm in their moral values. In their renowned philanthropy, professed conservative ideologies, and intellectual prowess, Chase

U.S. Commodity Futures Trading Commission. (n.d.). Retrieved March 1, 2013, from U.S. Commodity Futures Trading Commission: http://www.cftc.gov/index.htm

Chase Bank is a national bank and constitutes the consumer and commercial subsidiary of JP Morgan Chase. Chase Bank traces its origins to Manhattan Bank, created by Aaron Burr (The History of JP Morgan Chase & Co., 2008, p.2). Chase was the first tenant at the Rockefeller Center and was later on led by David Rockefeller in the 1960’s (Wilson, 1986, p.87). The famous Bank One became part of Chase in 2014, and the regrettable Washington Mutual, under receivership, was sold to Chase at a bargain during the crisis of 2008 (The History of JP Morgan Chase & Co., 2008, p.19).

In the 1890’s, J.P Morgan was famous for helping the government out of the Panic of 1893. While doing this, he made a lot of extra money in the process. This caused a lot of negative controversy in the public, and the people began to doubt the government's liability. From the book Grover Cleveland, a Study of Courage, the author comments, “hard handed Americans believed that Cleveland... had sold the credit of the republic to the Morgans… and had pocketed a share of the price. Their vituperative anger was additional evidence of a sectional and class bitterness”(Nevins 665). This shows the side of the story from the perspective of an American citizen. On top of that, Morgan refused to tell the public how much money he made from helping the

The mission of JP Morgan Chase is to provide outstanding and unparalleled service to all its clients which will empower them with strong analytical insights, enabling them to become more effective in managing their human assets.

To maximize the amount of business from each customer, banks bundle banking products. If one holds more than one savings account and multiple loans, he often earns benefits of interest.

CIBC has focused its core business on retail and business banking, wealth management, and whole sale banking. They have shown a proven track record of providing there customers with financial services and advice through a group upwards of 1100 branches worldwide. Strategies CIBC has portrayed is to continually find new ways to enhance the experience of the client and to stimulate safe revenue growth. CIBC has put emphases on creating deep meaningful relationships with all clients, constantly trying new ways to improve service and sales prospects and to create relationships with new clients while retaining existing clients for a long period of time (CIBC).

J.P. Morgan was hunting for an opportunity to break into a prime brokerage business to broaden its influence on the market. J.P. Morgan made a well thought through decision to acquire Bear Stearns, knowing that a prime brokerage business is one of its specialties. According to CNNMoney, “200 JPMorgan staffers were working on the deal, assessing the strengths of Bear Stearns' different businesses and its exposure to toxic mortgage securities.” It is apparent that a lot of effort and rigorous research have been invested in the decision making process. On top of that, the Bear Stearns’ offering price came at a great discount as well “to provide cushion to protect J.P. Morgan in turbulent times and would provide the company ‘margin for error.’” As we can see, J.P. Morgan was well familiar with the possible consequences it may face after the acquisition and made the deal the way to protect itself in the future. In its turn, Bank of America purchased Countrywide Financial in 2008 to become “No. 1” in mortgage lending, according to then-chief Kenneth Lewis. By making this acquisition the bank achieved its goal and became “the nation's largest mortgage lender and loan servicer.” Similarly to J.P. Morgan we can see that the bank had its incentives and executives clearly understood the pitfalls of the deal.

What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness

In January of 2009, the firm stepped up its efforts in its wealth management business by forming a partnership with Citigroup called Morgan Stanley Smith Barney. Initially just a 51% stake in the joint venture, the firm would eventually be the sole 100% owner of the business, and not surprisingly, be the center of the firm’s strategy in the post great recession era. With the financial crisis and outrageous bailouts still fresh in the public consciousness, one of the most respected and imposing investment banking franchises would tackle their problems by transforming “from a run-and-gun investment bank and trading house with a midsize wealth-management arm, to a financial-services company split almost evenly between retail brokerage, and trading and managing capital for companies and institutions” (Salzman, 2014).

Bank of America is a banking and financial service industry located in Charlotte, North Carolina. If you would like to access the internet address for Bank of America, then you can click on this link provided https://www.bankofamerica.com . Its primary SIC Code is 6021 – National Commercial Banks, and its primary NAICS Code is 522110 – Commercial Banking. The Bank of American provides many goods and services for its customers such as banking, credit cards, loans, and investments. Every day Bank of America is competing against many competitors but JPMorgan Chase and Wells Fargo are some of the largest. Bank of America’s stock exchange ticker symbol is NYSE: BAC. The external auditor is PricewaterhouseCoopers LLP in Charlotte, North Carolina.

In 1996, Citibank was an emergent banking institution attempting to increase its market share in the competitive Los Angeles area. In order to do so, the bank’s strategy was to focus slightly less on their financial growth, and much more on providing “a high level of service to its customers”. Management viewed this paradigm shift as “critical to the long term success of the franchise”.

5% of the shares. After Sakura and Sumitomo Banks merged on 1 April, 2001, to