The Managing Directors’ 2000 Convocation

Nicholas P. Sargen ()
Additional contact information
Nicholas P. Sargen: Nicholas Sargen Advisory LLC

Chapter 21 in JPMorgan’s Fall and Revival, 2020, pp 207-215 from Springer

Abstract: Abstract As Morgan’s managing directors gathered for the January 2000 convocation in the Millennium Hotel, the attendees anticipated it would have special importance. The reason: Morgan’s share price had lagged its main competitors and Sandy Warner and other senior managers would give their assessment of what was required to get Morgan back on track. Warner indicated that Morgan had made considerable progress on several fronts, but it had not become a bulge bracket firm in equities where the lions’ share of money was made. Management presented a plan to expand Morgan’s customer base to include high net worth households and the mass affluent. However, when the offering failed to garner many prospects, it soon became apparent the foray was Dead on Arrival (D.O.A.) By summer, word was out that Morgan was in play. On September 14, an announcement was made that Chase would acquire Morgan for an all-stock deal valued at just under $31 billion.

Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-47058-6_21

Ordering information: This item can be ordered from
http://www.springer.com/9783030470586

DOI: 10.1007/978-3-030-47058-6_21

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().