An Outcast From Citigroup Will Inherit The Leadership of a Merged Global Rival

Article Abstract:

J.P. Morgan Chase will acquire Bank One. Corp. and make James Dimon the president and COO of the newly merged company. He is expected to succeed current CEO William B. Harrison Jr. in two years. The merger will make J.P. Morgan only second to Citigroup. This is sweet revenge for Dimon who was ousted from Citigroup in 1998 after the company's merger with Travelers Group.

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Citigroup Forces Resignations of 3 Senior Executives

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Citibank executives Deryck C. Maughan, Thomas W. Jones, and Peter Scaturro have been forced to resign. Their dismissal is a result of a review that held them responsible for accounting irregularities which led to the closing of Japanese private banking operations.

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The Yin, the Yang and the Deal

Article Abstract:

In an unusual merger, J.P. Morgan Chase buys Bank One, but Bank One's CEO James Dimon will eventually have more responsibility than J.P. Morgan and Chase's CEO William B. Harrison Jr.

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