JPMorgan Is About to Become the First $1 Trillion Bank. The Premium Is Riding on 1 Man.
JPMorgan Chase is the largest bank in the United States, largely due to smart moves made in the 21st century.
Overview
JPMorgan Chase (NYSE: JPM) is closing in on a market cap of $1 trillion and is by far the most valuable bank in the world. This is because of the company's expansion across the United States and globally, offering consumer, commercial, and investment banking services, along with trillions in assets under management (AUM) for its wealth management services.
The stock trades at a premium to other banks, and for one reason: CEO Jamie Dimon. Here's the scoop on Dimon and whether investors should buy JPMorgan Chase stock near an all-time high.
Details
Jamie Dimon became CEO of JPMorgan Chase at the beginning of 2006, following the 2004 merger with Bank One Corporation. This was a pivotal moment in the commercial banking world, as the real estate bubble was heading into overdrive and was about to throw Dimon into the fire.
Source
Originally published at www.fool.com.