Category Archives: Banks

The Jamie Dimon Voice

Jamie Dimon (b. 1956) talks like a guy from Queens who runs a bank, because that is what he is. The voice carries a flat New York rasp, fast and a little gravelly, the consonants clipped. He does not slow … Continue reading

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Ten Convenient Beliefs For The Leaders Of Wells Fargo

Stephen P. Turner (b. 1951) describes convenient beliefs as the beliefs a man holds because holding them serves his interests, not because he has tested them against the world. The man does not feel the convenience. The belief arrives as … Continue reading

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Ten Convenient Beliefs For Bankers In America Today

Financial innovation creates value for the broader economy rather than primarily redistributing existing wealth toward those sophisticated enough to extract it while creating systemic risks that are eventually socialized through bailouts and monetary policy. Convenient because it justifies the complexity … Continue reading

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The Repair Architect: Alliance Theory and the Battle for Bank of America Authority

Bank of America is a post-trauma system. That is the organizing fact from which everything else follows. JPMorgan Chase built a fortress and proved it could withstand pressure. Bank of America built a redemption narrative and must prove continuously that … Continue reading

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The Jurisdictional Wars: Alliance Theory and the Battle for JP Morgan Chase Authority

Executives, division heads, and career bankers at JPMorgan Chase do not compete for authority by saying they want power. They compete by invoking languages of First-Class Business in a First-Class Way, fortress-balance-sheet discipline, client-first stewardship, or responsibility for sustaining a … Continue reading

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The Jurisdictional Wars: Alliance Theory and the Battle for HSBC Authority

Executives, division heads, and career bankers at HSBC bank (Europe’s largest bank that began in Hong Kong) do not compete for authority by saying they want power. They compete by invoking languages of the world’s local bank, connecting customers to … Continue reading

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The Jurisdictional Wars: Alliance Theory and the Battle for Authority at Wells Fargo

Executives, division heads, and career bankers at Wells Fargo do not compete for authority by saying they want power. They compete by invoking languages of what is right for the customer, Vision and Values, conservative risk management, community stewardship, or … Continue reading

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The Jurisdictional Wars: Alliance Theory and the Battle for Authority at Citi

Executives, division heads, and career bankers at Citigroup do not compete for authority by saying they want power. They compete by invoking languages of Responsible Finance, global client stewardship, prudent simplification, or responsibility for sustaining a systemically important institution inside … Continue reading

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The Jurisdictional Wars: Alliance Theory and the Battle for Authority at Bank of America

Executives, division heads, and career bankers at Bank of America do not compete for authority by saying they want power. They compete by invoking languages of Responsible Growth, consumer-first stewardship, regulatory prudence, or responsibility for sustaining a systemically important institution … Continue reading

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Decoding Lazard’s Geopolitical Advisory

Lazard’s Geopolitical Advisory makes sense only if you understand the old merchant bank tradition. Lazard historically operated less like a commercial bank and more like a discreet diplomatic intermediary for capital. For decades the firm advised governments on privatizations, restructurings, … Continue reading

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