After the Deal: A Crucial Merger of Styles

Article Abstract:

The recently announced merger between J.P. Morgan Chase and Bank One Corp. provides an interesting challenge in understanding how two different management styles will work together in the new venture. J.P. Morgan Chase's CEO William B. Harrison is a southern gentleman who likes to delegate responsibility. His hand-picked successor in the next two years, James Dimon, has a more aggressive, hands-on style influenced by his former boss Sanford I. Weill, chairman of Citigroup, the leading banking institution in the US. Dimon, who will become president of the merged banks, is expected to succeed Harrison as CEO in 2006. Analysts expect the merger of managerial styles to work because J.P. Morgan Chase executives will handle investment banking while Bank One officials will focus on consumer banking operations.

Financial management, Finance, Acquisitions and mergers, Bank One Corp., ONE, Company financing, JPMorgan Chase & Co., Dimon, James, Harrison, William B.

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BANK OF AMERICA AND FLEETBOSTON AGREE TO MERGER

Article Abstract:

BankAmerica Corp. will pay $48 billion in stock to merge with FleetBoston Financial Corp. This will create the country's second largest bank with 10% of US deposits. From coast to coast, the newly created bank will operate 5,700 branches in 29 states. FleetBoston was ripe for a takeover since the merger between Fleet Financial and BankBoston in 1999 that resulted in financial losses. BankAmerica is currently under investigation for improper mutual fund trading.

BankAmerica Corp., FleetBoston Financial Corp., FBF

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2 Soros Sons Get More Control Of the Business

Article Abstract:

George Soros is giving his sons Robert and Jonathan more control of Soros Associates, which will spin off a buyout business and return to main role as a manager of hedge funds.

Executive changes & profiles, Investment Offices, Investment Companies, Open-End Investment Funds, Investment Funds & Trusts, Officials and employees, Soros, George, Appointments, resignations and dismissals, Soros, Jonathan, Soros, Robert, Soros Associates Inc.

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