JPM Post-GFC Firm History
Hey everyone,
It seems like the street now views JPM, GS, and MS as the "big 3" BBs. GS and MS were established, tip-top investment banks pre-GFC.
This wasn't the case for JPM at all as a corporate bank pre GFC. JPM notably bought Bear Stearns in 2008 but old WSO posts refer to Bear as more of a middle market player without the same cachet as today's JPM (that being said, it was obviously very highly regarded).
I was wondering if there is a conclusive storyline for how JPM climbed the league tables to this "Top 3" status today, 15-20 years post GFC. Obviously people reference Jamie Dimon or the firm's balance sheet but these seem very simplistic (for instance, where is BofA in the top 3?).
Could anyone chime in here? Was there a period where they invested particularly heavily? Were there key people (not named Jamie Dimon) who built it up?
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