Stories
Stories
Banking’s Regular Rescuer

Photo via LinkedIn
With this week's takeover of First Republic, the New York Times took a look at how JPMorgan Chase, led by CEO Jamie Dimon (MBA 1982), has leveraged its role as the go-to bank when other banks fail.
First Republic is now the third failing financial institution that Dimon has agreed to buy in a federally backed transaction, following JPMorgan's takeovers of Bear Stearns and Washington Mutual during the 2008 financial crisis. All three deals have helped defuse panics, while also benefitting JPMorgan. JPMorgan's agreement to buy First Republic is expected to boost the bank's profits by $500 million this year and will give it access to many wealthy clients.
While some observers raise concerns about the ever-growing reach of JPMorgan, others see the bank and its CEO serving the public good. Investor Warren Buffett told the Times, "Jamie is doing the right thing for the country and the right thing for JPMorgan Chase—exactly what I would have expected him to do."
Post a Comment
Related Stories
-
- 01 Sep 2024
- HBS Alumni Bulletin
From the Classroom to Casablanca
Re: Alan D. MacCormack (MBA Class of 1949 Adjunct Professor of Business Administration); By: Jennifer Gillespie -
- 19 Jan 2024
- Making A Difference
Blockchain for Good
Re: Stella Dyer (MBA 1994) -
- 31 May 2023
- HBS Alumni Bulletin
Alumni Achievement Awards 2023
Re: Reshma Kewalramani (GMP 18); Depelsha Thomas McGruder (MBA 1998); Ray McGuire (MBA 1983); Antonis Samaras (MBA 1976); Steve Schwarzman (MBA 1972) -
- 25 May 2023
- The Brazilian Report
Brazil’s Nubank Turns 10
Re: Guilherme Lago (MBA 2005)
Stories Featuring Jamie Dimon
-
- 08 Oct 2020
- JPMorgan Chase
JPMorgan Chase Commits $30 Billion to Advance Racial Equity
Re: Jamie Dimon (MBA 1982) -
- 19 Aug 2019
- Business Roundtable; Fortune; Quartz; Wall Street Journal
A New Purpose for the Corporation
Re: Jamie Dimon (MBA 1982); Kewsong Lee (MBA 1990); James Robo (MBA 1988); Wendell Weeks (MBA 1987) -
- 15 Mar 2019
- The Irish Times
JP Morgan Chase Opens New Office in Dublin
Re: Jamie Dimon (MBA 1982)