Charles Peabody Chase Quotations

J.P. Morgan had a fairly strong independent streak. In the last two-to-three years, they decided they were going to try to get their brand name out there to and leverage that into a business stream of revenue that would have allowed them to remain independent. It didn't work. Their second goal: If you can't do it internally, let's command an extreme premium for that brand name. And they did that. Chase paid top dollar.

Chase paid top dollar and this is going create substantial strains on Chase. There's tremendous execution risk going forward. I think it's going to be a very difficult cultural fit.