Chase: Back in the bulge-bracket

So, the succession at Chase is decided. Bill Harrison will inherit a bank riding high in the league tables, doing deals in the darkest days of the crisis and basking in the respect of its peers. How did Tom Labrecque and Walter Shipley do it? By rethinking the bank's whole approach to risk management and being able to say no to marriage proposals. But if it is to continue on this roll and become a true one-stop shop, Chase needs to do a deal sooner or later. Michelle Celarier reports.

The legacy of Tom Labrecque

Banking’s merger meister

The US Labor Day weekend, the first one in September, is usually the last gasp of summer for Wall Street investment bankers, a time of lazing on the beach at their Hamptons homes as they store up energy for the gruelling autumn calendar ahead. Of course last year’s holiday, coming on the heels of Russia’s debt default and a near 20% drop in the Dow, was relaxing for no-one.

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