IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-030-47058-6_8.html
   My bibliography  Save this book chapter

Buy or Build?

In: JPMorgan’s Fall and Revival

Author

Listed:
  • Nicholas P. Sargen

    (Nicholas Sargen Advisory LLC)

Abstract

Once Morgan’s management committed to transform the firm, it had to develop a strategy to pull it off. There were two directions it could go. One was to gain expertise via acquisitions that regulators would sanction; the other was to build a capability in investment banking and securities organically. For Lew Preston the choice was clear. Morgan would primarily build these businesses organically. The reason: He wanted to preserve Morgan’s culture and the bank was involved in only one merger, that with the Guaranty Trust Co., in the post-war era. However, Preston was willing to consider targeted acquisitions that were good strategic fits provided the price was right. One challenge was whether Morgan could marry two prototypes—commercial bankers and investment bankers—without a culture clash. Another was Morgan’s compensation was considerably below investment banks.

Suggested Citation

  • Nicholas P. Sargen, 2020. "Buy or Build?," Springer Books, in: JPMorgan’s Fall and Revival, chapter 8, pages 73-82, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-47058-6_8
    DOI: 10.1007/978-3-030-47058-6_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-030-47058-6_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.