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Jamie Dimon as One of a Breed of Extremely Successful Bankers - Case Study Example

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This paper is about Jamie Dimon, the legendary chief of investment bank JP Morgan Chase. Throughout the current credit crisis, when one Wall Street Major after the other collapsed or morphed into banking entities, JP Morgan Chase was the only bank that required minimal assistance from the government…
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Jamie Dimon as One of a Breed of Extremely Successful Bankers
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Download file to see previous pages Jamie Dimon heads the only bank that was capable of acquiring Bear Sterns in the March of 2008 when it needed a buyer. This alone makes it unique among the Wall Street majors of Investment Banks and hedge funds that had to be bailed out by the government. Thus, JP Morgan stands uniquely placed as one of the banks that have survived with limited assistance from the government. This is an example of smart and savvy investment and strategic management practices. As Crain's, one of the leading investment news reporting online journals puts it, “By making his tough, successful offer, Mr Dimon became a major player in the first of the year's big financial dramas—and one of Wall Street's most influential people. He now leads the nation's third-largest financial services company, behind Citigroup and Bank of America. J.P. Morgan Chase has $1.8 trillion in assets, more than 175,000 employees, headquarters buildings lining Park Avenue and another one under construction near Ground Zero” (Crains, 2008). Thus, JP Morgan and Jamie Dimon have managed the strategic environment to their advantage by scouring for potential take over targets and acquiring Bear Sterns in the process. It is as much a reflection on the capacity of JP Morgan as it is on the strategic insights of Dimon that he was able to manoeuvre the bank to a position of relative comfort and security amidst the turmoil that is happening all over the world and Wall Street in particular. Jamie Dimon heads the only bank that was capable of acquiring Bear Sterns in the March of 2008 when it needed a buyer. This alone makes it unique among the Wall Street majors of Investment Banks and hedge funds that had to be bailed out by the government. Thus, JP Morgan stands uniquely placed as one of the banks that have survived with limited assistance from the government. This is an example of smart and savvy investment and strategic management practices. As Crain's, one of the leading investment news reporting online journals puts it, “By making his tough, successful offer, Mr Dimon became a major player in the first of the year's big financial dramas—and one of Wall Street's most influential people. He now leads the nation's third-largest financial services company, behind Citigroup and Bank of America. J.P. Morgan Chase has $1.8 trillion in assets, more than 175,000 employees, headquarters buildings lining Park Avenue and another one under construction near Ground Zero” (Crains, 2008). Thus, JP Morgan and Jamie Dimon have managed the strategic environment to their advantage by scouring for potential take over targets and acquiring Bear Sterns in the process. It is as much a reflection on the capacity of JP Morgan as it is on the strategic insights of Dimon that he was able to manoeuvre the bank to a position of relative comfort and security amidst the turmoil that is happening all over the world and Wall Street in particular. ...Download file to see next pagesRead More
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