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itself. grow too fast hastily will go bust.
Their strengths are that they have no weaknesses....i'd pay you to say that if you could haha
You could put together something around M&A/Debt Financing issues, similar to this one: http://online.wsj.com/article/SB100014241278873238549045782621718267645…
talk about something specific and pick it apart weighing both the positives and negatives
strength= economies of scale weakness is hard because I wouldn't want to say something really bad... perhaps that they are very big and sometimes it's hard to spot unethical actions done by employees or something like this... lol
They aren't integrating cultures between the wealth management expansion with the institutional side of the business well enough, setting themselves up for a literal civil war. Remember how the traders went to war against the bankers in the 80's? Remember how that played out? It's going to be retail v institutional and retail will definitely win if this goes unchecked. This applies across the entire industry, but JP is in particular danger because they aquired what once was a competing firm and these guys don't like each other at the heart of it, so it's a three way clusterfuck if they don't address this soon...
Damn, I should be a consultant, I'm way better at this shit than the markets.
I disagree with you, the culture situation isn't as big a deal as the set growth.. and retail isn't ballsy enough to challenge institutional. based on my work experience, their human capital teams are very well positioned to mesh in current market landscapes. And lets be real here.. do you really think any big JPM executive is going to start the reign of challenging other divisions??? that guy would get kicked out of JPM so fast to avoid media impact that everyone will be very quiet in the coming few years.
And they will get ballsy, given that the openly stated goal of UBS first, and later many in the industry, is to focus more on WM given it's relative stability and consistent returns. Ironically, the traders are now being cast out and the bankers are not facing the same drastic overhauls even if their numbers are declining....and if I had to bet on a retail guy vs the average banker in a slugfest, I have to be honest, I'd go with retail for the kill shot. While most bankers I've met "summered", the retails guys come from every walk of life and have the natural advantage of hitting from more angles.
I'm totally speculating a decade down the road, but I know that shared services at firms like CS are already seeing competition for resources, so I think that when we have another republican in office and the press finds someone else to pick on, the shift will start. It's not a bad thing, but I think it's a matter of time, that's all, and maybe a matter of evolution.
Personally, I see it as an opportunity. But JP went from having 15%+/- of its revenue come from WM to well over 50% and such a huge change will ripple through the firm's power structure at some point or another. I'm guessing you have a good deal more inside knowledge, as I have no experience with that firm, so if I'm off base, well, oh well.
Seconded.
I'd mention the benefits of economies of scale, but counter that larger firms may potentially have more difficulties in Risk Management.
When you have a diversity points CIO and an arrogant as hell French prop trader masquerading as a manager of liquidity that puts on a 100bn IG9 bet, and you let people off the desk go to work at Saba so they can get on the other side of the trade when it moves against you, a tempest in a teapot turns into a $6bn loss - that is a weakness
Just finished interviewing with them for Portfolio Management Strategy in their Private Bank. Their main weakness is that they are too big and aren't as lean as the European Banks operating in the space. The leanest banks are Goldman and Credit Suisse.. they are wayyyyy more tight shopped than the other banks. JPM also operates in every Fixed Income Product, whether it is winning or losing (doesnt matter to them) and banks like Goldman and Credit Suisse are focusing on eliminating loss leading fixed income products. UBS just eliminated their entire fixed income group all together to be more lean and compete in Equities (their arguable strong point)...
btw, I'm a financial services strategy consultant. Interviewed at GS, CS and JPM.. JPM rejected me because I tried to speed up the process with GS and CS offers.. then GS salary was lower than CS offer, so I signed with CS fixed income. I studied JPM, GS, and CS very closely.. and JPM is just in "growth mode" returning pretty good yields comparatively (actually the banks are set to kick ass in the next few years with DFrank implementations across the board), while GS and CS are focusing on their specialties (specifically CS, which as a consultant, I admire).
I hope this helps (knowing this site, i know everyone is gonna start the bashing spree and debates.. here we go).
Oh fyi, JPM has the sexiest building at 270 Park Ave.. walking around on the 40th floor felt like I was going to take over the world... CS building is a bit old--> cost cutting.
lol word ^^
I'll apply when im in MBA.. I'll follow up to see how this building actually looks.
I kinda like the CS building. Very gothic looking. Cool elevators.
Well, I'll be staring at gothic walls for the next few years... not really my idea of baller, but more on the level of prestige.
Oh by the way guys.. read the 2012 Q4 earnings transcripts on Seeking Alpha.. thats what I did and I felt ready to tackle all my interviews after Glassdoor, vault, and forum revisions.
Mention a weakness that can be framed positively.
For example, "JPMorgan, like all leading financial institutions, faces a significant challenge in overcoming the dent in its public image wrought by the London Whale and its risk management group several months ago. With $1.34 trillion AUM, it's JPM's game to lose as the most recognizable and powerful name in financial services, and it will have to remain ever diligent to uphold its refined reputation."
Swerve
"Commercial banks with investment-banking divisions are like taking a Porsche and attaching a huge Maxima decal to the back windshield — it’s disgusting and wrong."
Instead of a firm specific weakness maybe push this more toward an ominous challenge to the industry and spin it back to JPM.
They rely on their balance sheet rather than their advisory acumen to secure deals.
its not goldman
The London Whale hurt so much, their stock was only up 30% in 2012. Looks like a big weakness to me...
Weakness of JP Morgan?
Bro, does he even lift?
*Would not fuck with that guy
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