JP Morgan - The 'Dimon' Medicine at Work
|
Code :LDS0019K
|
Region : US |
||||
 |
 |
 |
 OR |
||
|
Introduction: James ‘Jamie’ Dimon (Dimon) was lying on the couch in his library one Sunday evening in December 2005, pondering on his new role. From 1st January, 2006, he would be the Chief Executive Officer (CEO) of JP Morgan Chase (JP Morgan). Though he had already been actively involved in running JP Morgan since the Bank One-JP Morgan merger3 in 2004, he would be officially in charge from January 2006. And he knew only too well the challenges that lay ahead. JP Morgan, the third largest US financial services company by assets , was a loosely integrated body of various acquired financial companies. But despite its size, growth and profitability had been subdued. With an overpaid staff and an underperforming stock, JP Morgan was gravely in need of restructuring . Dimon had outlined his revamp strategy right at the onset of his stint at JP Morgan — keep costs flat and raise revenues. He had already started implementing some of the changes in the last few months, but the turnaround was taking more time than he had predicted. Expectation of Wall Street4 was mounting, and he needed to deliver results soon. The question was, given the scale and culture of the company, would Dimon be able to do a Bank One5 once again? |
|
| For Case Books
Click Here >> For Case eBooks Click Here >> |
|
