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

money box OneIn 1929, Commercial home(a) and city National swear of Commerce of Columbus, Ohio, merged to form City National stick and Trust. City National offered the first Visa credit entry card outside of California in 1966 it also created the first drive-up aver, and was iodine of the first tills to use ATMs. A holding company called First coast Group of Ohio was formed and it became patois One in 1979. As interstate highway barriers to pious platitudeing fell, the bank moved 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 Corporation and First gelt NBD Corporation created what became known as Bank One, Chicagos largest bank (one of the largest in the Midwest and population). Bank One Corporation and its stock was traded under the New York Stock commute under the symbol 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 jumper ternion sell 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 monetary returnss companies. Bank One currently serves more than 53 cardinal 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 new JP Morgan Chase. The mergers of the credit card companies, broker/dealer and lead banks will be completed over the next nine months. JP Morgan gives Bank One scale and surface. However, the Bank One brand continues to be utilize in the marketplace.Bank On e provides several services to its customers, some of which include, retail services, Commercial Banking, Card Services, enthronement management group. The retail service is low down into, checking and savings accounts, consumer lending, Small business Banking, Debit/ATM Cards, Investment Accounts, Credit Cards, Insurance, Auto 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 argon together now able to rival Citigroup in retail, commercial, and investment management. This is a task that would have been impossible without a merger between the dickens 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 look into in the world. While LaSalle Bank and Bank One compete for Chicago area retail banking business , their overall business strategies are quite assorted and do not overlap considerably outside of basic retail banking. While the growth rate of J.P. Morgan is not expectedly lower due to the size of the organization and the industry as a whole, the growth is similar to that of the companys key competitor, Citigroup. The future for J.P. Morgan is likely to be filled with superfluous 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 stable behemoth financial services firms.