Bank One and LaSalle Bank Comparison Essay -- essays research papers

savings edge wizardIn 1929, Commercial topic and City National fix of Commerce of Columbus, Ohio, merged to form City National hope and Trust. City National offered the first Visa assign posting external of California in 1966 it also created the first drive-up bank, and was one and only(a) of the first banks to lend oneself ATMs. A holding company called First camber Group of Ohio was make and it became Bank genius in 1979. As interstate barriers to banking fell, the bank move into Indiana, Kentucky, Michigan and Wisconsin. The First National Bank of lucre and Bank One merged on October 2, 1998. The merger between Bank One heap and First Chicago NBD good deal created what became k straightwayn as Bank One, Chicagos largest bank (one of the largest in the midwestern United States and nation). Bank One Corporation and its stock was traded under the New York Stock Exchange under the type One. This merger created the nations 5th largest Bank with assets of more than $ 240 billion. Bank One is a major corporate bank nationally and in selected international markets in 11 foreign countries, the nations largest credit card company which also is a leading retail bank in eight states, the leading business bank in the Midwest and Arizona, and the largest bank mutual fund company. With assets of more than $270 billion currently, Bank One Corporation is one of the nations largest financial services companies. Bank One currently serves more than 53 million credit card customers nationwide as well as 7 million companies in 14 states. It also manages more than $149 billion of assets for investors. The bank has 74,000 employees at 2000 branches in 14 states. On July 1, 2004 Bank One became a part of the newfound JP Morgan Chase. The mergers of the credit card companies, broker/dealer and lead banks willing be completed over the next nine months. JP Morgan gives Bank One surmount and size. However, the Bank One brand continues to be used in the marketplace. Bank One provides several services to its customers, some of which include, retail services, Commercial Banking, tantalize Services, Investment management group. The retail service is broken down into, checking and savings accounts, consumer lending, Small business Banking, Debit/ATM Cards, Investment Accounts, Credit Cards, Insurance, automobile loans and leases, Online Banking and Home loans. The Investment Management Gr... ...processors of ATM transactions in the country. Clearly, consolidating in the sector is increasingly common. Bank One and J.P Morgan are together now able to rival Citigroup in retail, commercial, and investment management. This is a task that would consume been impossible without a merger between the two organizations. J.P. Morgan (JPM stock ticker) has a buy rating on the stock by Standard & Poors, which one of the most reputable providers of independent financial research in the world. speckle LaSalle Bank and Bank One compete for Chicago area retail banking business, their overall business strategies are quite different and do non overlap considerably outside of basic retail banking. While the increase rate of J.P. Morgan is not expectedly lower due to the size of the organization and the persistence as a whole, the growth is similar to that of the companys primaeval competitor, Citigroup. The future for J.P. Morgan is likely to be filled with additional mergers and acquisitions. It remains to be seen how the company will compete from an operational and service standpoint with Citigroup however, it will be a protracted battle between the two motionless behemoth financial services firms.