April 1, 2001
The dust has begun settling following Chase Manhattan's $33.5 billion acquisition last December of J.P. Morgan. Staff at the merged bank's New York headquarters are settling into their new offices, new teams are hitting their pace. The upheaval and air of permanent revolution of the past few months are giving way to a sense of normality as the combined bank starts pulling in some very big deals in Latin America.
John Pierpont Morgan, the titan of late 19th century and early 20th century finance, and John D Rockefeller, the architect of the most powerful industrial-financial complex ever assembled in America, would probably feel proud. The takeover has created a colossal banking machine
The investment banking giant created by the merger of Chase and JP Morgan wants to serve every market sector in Latin America. It got off to a flying start, but it is likely to find the going much tougher for the rest of the year.