Bank One Jamie Dimon Is The CEO Essay

PAGES
2
WORDS
638
Cite

Bank One Jamie Dimon is the CEO of Bank One and has been on the job for a few months. He has completed his first 100 days with the company and is now set to initiate a long-term turnaround strategy. In the first 100 days, Dimon met with managers from across the bank's different businesses and units in order to learn the problems that the company is facing. The purpose of this report is to analyze the current situation facing Dimon and Bank One, first by identifying the issues the company is facing, and then conducting an analysis of the key internal and external factors.

Dimon must address a number of different problems at Bank One. The commercial banking group is a mess, described as a set of "fiefdoms." There is no cohesion within the group. The incentive system emphasizes growing the loan bank, but not profitability. The commercial banking group uses a proprietary risk assessment system, and this has not performed well. This group lacks leadership. The investment...

...

Retail banking suffers from poor documentation, which makes it difficult to assess risk. The auto loan business is in trouble due to bad credit and declining auto prices. Auto lending puts the bank in competition with automakers, who can use financing as a loss leader, something that drives down revenues and margins for banks involved in the business. Bank One has two online banking platforms, and that creates needless duplication. First USA is bleeding customers, for a number of reasons including payment processing issues, low customer satisfaction, and intense competition. The company's IT strategy is a disaster, with no centralized planning. Each group makes its own IT decisions. Bank One also lacked proper mechanisms for tracking performance. Expense control, therefore, is difficult.
Dimon faces a number of broader strategic issues as well. The company needs cash, and needs to cut its…

Cite this Document:

"Bank One Jamie Dimon Is The CEO" (2012, April 10) Retrieved April 26, 2024, from
https://www.paperdue.com/essay/bank-one-jamie-dimon-is-the-ceo-79143

"Bank One Jamie Dimon Is The CEO" 10 April 2012. Web.26 April. 2024. <
https://www.paperdue.com/essay/bank-one-jamie-dimon-is-the-ceo-79143>

"Bank One Jamie Dimon Is The CEO", 10 April 2012, Accessed.26 April. 2024,
https://www.paperdue.com/essay/bank-one-jamie-dimon-is-the-ceo-79143

Related Documents
Jamie Dimon and Bank One
PAGES 4 WORDS 1429

His positive attitude was probably critical to the employees at Bank One. It is important to keep in mind that Bank One, while it was one large organization at the time that Dimon came in, had been consolidated from a number of smaller organizations. As a result, one would imagine that all of the employees had experienced the loss of coworkers and changes in management in prior reorganizations and mergers.

Jpm Boa Jp Morgan Chase
PAGES 2 WORDS 740

Bank of America credit is rated Baa2, compared with A2 for JP Morgan Chase. Both of these banks have similar structures and similar product lines. Bank of America is more heavily oriented towards retail, while JP Morgan Chase has a strong investment banking business. The latter factor contributes to the superior stability of JP Morgan's business. Also contributing to the superior performance of JP Morgan is that the companies it

Banking Sample The banking industry, over the last decade has undergone significant change. Industry regulation such as Dodd-Frank, Basel 3, and international capital requirements have now made the industry safer and more transparent. However, due primarily to the crisis of 2008, some banks are more stable than others. In many instance, due to unethical practices of the past, many banks are now suffering as they struggle to attract market share and

Annual Report What differences, if any, do you perceive in the approach each organization presents in its annual performance? Is information and data presented clearly so that the reader can make clear inferences about how the organization performed? I believe the two organizations, Bank of America, and JP Morgan format their annual reports to reflect the culture of the business. Bank of America, due primarily to the negative sentiments prevailing in the

While Cadbury was initially vulnerable resulting in this take over, Kraft had to borrow heavily to afford the final price of 850p per share. In the coming months and years, Kraft will have to balance against recovering the money put into this acquisition (Wiggins, 2010). A risk, many British politicians and citizens alike fear will mean the end of their signature chocolate in an effort by Kraft to increase

The Perils of Executive CompensationIntroductionExecutive compensation acts as an incentive for CEOs to enhance an organization�s performance and is common practice across industries. Michael Eisner was famously rewarded handsomely via executive compensation for his stewardship of Disney in the 1990s (Downes et al., 2007). Elon Musk has even more famously accrued substantial personal wealth via executive compensation for meeting targets related to Tesla�s share price (Jones, 2021). While executive compensation