Forese and Kelleher both made, arguably, more substantive contributions to the post-crisis recoveries of their two banks than their bosses Michael Corbat, chief executive at Citigroup, and James Gorman, Morgan Stanley’s CEO.
They also inspired more personal loyalty than their superiors, who are widely viewed as aloof and suffer from comparison with JPMorgan’s Jamie Dimon, the undisputed top Wall Street chief executive.
Forese and Kelleher have kept their firms within striking distance of JPMorgan, which has developed the leading global investment banking franchise since the 2008 crisis.
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