Date: 05-01-2019
Source: The Wall Street Journal
The JPMorgan chief and Amazon founder have found their companies’ fortunes increasingly entwined, but the balance of power between their firms has shifted
JPMorgan Chase & Co. Chief Executive James Dimon assembled a team in 2017 to answer a question that had been nagging at him for a while: “How should we think about Amazon?”
The team explored the ways Amazon.com Inc. could muscle into financial services and where JPMorgan could fit in, according to people familiar with the matter. And what if, as Wall Street has long feared, the tech company were to become a bank itself?
Industries from pharmaceuticals to logistics are grappling with the Amazon question, as the retailer relentlessly expands into new business areas. But in many ways, the online retail giant and the nation’s largest bank by assets have a special relationship.
The fortunes of the two companies have become more entwined over the years. They are closely connected through a credit-card deal struck when the retailer was still mostly selling books and CDs on the internet. JPMorgan is in talks to partner with Amazon on a number of financial ventures, and the bank lends to the tech company. With Warren Buffett’s Berkshire Hathaway Inc., the companies are working on a first-of-its kind venture to lower health-care costs for their hundreds of thousands of employees. Increasingly, JPMorgan has begun to emulate some of Amazon’s signature management practices. Den Rest des Beitrags lesen »
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