JP Morgan Chase Case Study
JPMorgan Chase & Co.
JP Morgan Chase & Co. was created when two fast growing firms merged on the first day of 2001. JPMC became the third largest bank in the United States. JPMorgan’s assets continually increased from $667 billion in 1999 to $2.2 trillion in 2008, meaning a compound annual growth rate of 16% (U.S Government Printing Office, 2011). At the rate, JPMC has become the largest bank in the United States with $2.4 trillion in assets (Irwin, 2013). However, JPMC is not only prevalent in the U.S. Employing approximately 255,000 people worldwide (Irwin, 2013), JPMC is an important global player in the financial sector. JPMC’s headquarters are located in America’s financial business hub, New York City, but JPMC has significant global presence in over 60 countries in the Americas, Europe, Asia and Africa.
Diversity at JP Morgan Chase is taken seriously, and has been noted to have some of the most effective diversification recruiting of all the Fortune 500 firms. JPMC has created a positive identity for itself amongst banking circles, known for being selective and competitive but understanding that talented candidates come in many forms (Yemen & Davidson, 2009). For customers and clients, JPMC strives to treat each customer as an individual and build relationships with clients. Amongst employees (current and prospective), JPMC treats them with respect and fairness with outlined procedures and managerial support, while keeping a sense of healthy competition.
JPMC’s CEO Jamie Dimon, a Tufts undergraduate, Harvard MBA with a lot of previous executive-level experience, was appointed on December 31, 2005 (Yemen & Davidson, 2009) after having previously been president and COO. The operating committee underneath Dimon consists of thirteen executives that must report to the CEO (Ibid). Dimon is a hard-worker and strong believer in diversity. He desires change that would lead to JPMC being more interconnected to all the top talent in the market, not just of a
JP Morgan Chase & Co. was created when two fast growing firms merged on the first day of 2001. JPMC became the third largest bank in the United States. JPMorgan’s assets continually increased from $667 billion in 1999 to $2.2 trillion in 2008, meaning a compound annual growth rate of 16% (U.S Government Printing Office, 2011). At the rate, JPMC has become the largest bank in the United States with $2.4 trillion in assets (Irwin, 2013). However, JPMC is not only prevalent in the U.S. Employing approximately 255,000 people worldwide (Irwin, 2013), JPMC is an important global player in the financial sector. JPMC’s headquarters are located in America’s financial business hub, New York City, but JPMC has significant global presence in over 60 countries in the Americas, Europe, Asia and Africa.
Diversity at JP Morgan Chase is taken seriously, and has been noted to have some of the most effective diversification recruiting of all the Fortune 500 firms. JPMC has created a positive identity for itself amongst banking circles, known for being selective and competitive but understanding that talented candidates come in many forms (Yemen & Davidson, 2009). For customers and clients, JPMC strives to treat each customer as an individual and build relationships with clients. Amongst employees (current and prospective), JPMC treats them with respect and fairness with outlined procedures and managerial support, while keeping a sense of healthy competition.
JPMC’s CEO Jamie Dimon, a Tufts undergraduate, Harvard MBA with a lot of previous executive-level experience, was appointed on December 31, 2005 (Yemen & Davidson, 2009) after having previously been president and COO. The operating committee underneath Dimon consists of thirteen executives that must report to the CEO (Ibid). Dimon is a hard-worker and strong believer in diversity. He desires change that would lead to JPMC being more interconnected to all the top talent in the market, not just of a
References: Ingram, D. & Henry, D. (2014). “Latest in string of legal claims costs JPMorgan Chase $614m.” Business Day Live. . (5 February 2014). Irwin, N. (2013). “Everything you need to know about JPMorgan’s $13 billion settlement.” Washington Post. . (5 February 2014). The Financial Crisis Inquiry Commission. (2011). The financial crisis inquiry report. Washington, D.C: U.S Government Printing Office. Yemen, G. & Davidson, M.N. (2009). Diversity at JPMorgan Chase: Right is good enough for me. Charlottesville, VA: University of Virginia Darden School Foundation.