Rescaling the Industry

As we read in the text, the financial services industry is currently in the middle of a major rescaling.  Banks went from being heavily regulated to deregulation, giving them room to venture into national economies of scale.  Rescaling in this industry has mainly come through mergers and acquisitions.  Some agencies attempt to rescale primarily through internal growth.

J.P. Morgan is a leading mergers and acquisitions firm.  Their M&A transactions  include asset purchases and disposals, restructuring and reorganization.  The M&A business is critical in strengthing the firm's globally integrated model and  it's growing financial franchise in India. 

The firm itself has a history of mergers and acquisitions.  They started out as the Chemical Bank of New York and have since then undergone reorganization and several mergers.  Here I will highlight a few:

• Chase Manhattan Bank & J. P. Morgan & Co. (merged 2000)
• Bank One (acq. 2004)
• Bear Stearns (acq. 2008)
• Washington Mutual (acq. 2008)