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William B. Harrison Jr., (born August 12, 1943), in Rocky Mount, North Carolina, is the former CEO and chairman of JPMorgan Chase. He attended high school at Virginia Episcopal School, where he was a basketball star.
- Banking in His Blood
- Mentors
- Mergers
- The Enron Scandal
- Management Style
- Fueling Global Development
- Management Shakeup
- Taking on Citigroup
- Sources For Further Information
- GeneratedCaptionsTabForHeroSec
In 1931 Harrison's grandfather founded the Peoples Bank and Trust Company in Rocky Mount, North Carolina, a cotton and tobacco town where Harrison spent his childhood. His father worked for Peoples before making a career shift into real estate development. Harrison once commented that a key skill he used during mergers—adeptness at building loyalty...
Harrison's grandfather encouraged him to train with a major Wall Street firm after college and bring back his lessons to the family business. Recalled Harrison to Schack, "I always had in the back of my mind that I would return to North Carolina. That lasted for, oh, 15 years." After being graduated with a degree in economics in 1966, Harrison spen...
In 1996 Chemical bought Chase Manhattan for $10 billion, at the time the largest banking acquisition in history. Harrison spearheaded the combined firm's expansion in fixed-income trading and syndicated lending, making him a contender to succeed Shipley, who was nearing retirement. In July 1999 the board named Harrison president and CEO of the comb...
Another source of concern was the Enron scandal, which had a ripple effect on J. P. Morgan Chase. The U.S. Securities and Exchange Commission alleged that the company helped Enron set up complex financing, which allowed Enron to hide debt and make earnings and revenues look much better than the actual financial position. Harrison explained the tran...
As the CEO, Harrison lacked the charisma and take-charge attitude of many of his industry peers. Instead of ruling with an iron fist, he believed in the power of collaboration and consensus. Harrison gathered his top executives around a table once a week to vent. One of his favorite books was Daniel Goleman's Emotional Intelligence, which he gave t...
Harrison believed that his company, along with other large financial institutions, played a crucial role in global economic development. In a speech to the Synergos Institute in 2002 Harrison said, "We act as financial engineers that mobilize and direct the flow of capital because we have a clear stake in the communities we serve and do business in...
In 2003 J. P. Morgan Chase, scarred by a series of setbacks in the world of finance, announced a shakeup of its top ranks that included the departure of its highest-profile investment banker and the reassignment of other top managers. The stock price had decreased more than 20 percent over the previous year while earnings sank 72 percent. Harrison ...
With more than $100 billion in 2003 revenues, Citigroup was the world's largest financial services firm that year. To truly compete globally Harrison knew his bank had to grow. In 2004 he negotiated a deal to merge Chicago's Bank One with J. P. Morgan. The headquarters were in New York, and Chicago was the base for some retail operations. Although ...
Bartiromo, Maria, "William Harrison, Chairman and CEO of JP Morgan Chase, Discusses his Firm's Involvement in the Enron Scandal," After Hours with Maria Bartiromo, CNBC, August 5, 2002. ——. "William Harrison of JP Morgan Chase Discussed the Future of the Newly Merged Corporation," Market Week with Maria Bartiromo, CNBC, January 5, 2001. Elstein, Aa...
Learn about the life and career of William B. Harrison Jr., the chairman and CEO of J. P. Morgan Chase & Company. Find out how he transformed the bank through acquisitions, mentorship, and teamwork.
Learn about the career and achievements of William B. Harrison, Jr., who retired as Chairman and a Director of JPMorgan Chase in 2006. He was succeeded by Jamie Dimon, who became the additional Chairman of the global financial services firm.
The 10 Highest Paid CEOs. #3. William B. Harrison, Jr. President & CEO, J.P. Morgan Chase & Co. Direct deposit: $6,281,250. Perks: $39,579,590 option value + $3,118,766 restricted stock...
William B. Harrison Jr., (born August 12, 1943), in Rocky Mount, North Carolina, is the former CEO and chairman of JPMorgan Chase. He attended high school at Virginia Episcopal School, where he was a basketball star.
Sep 14, 2000 · For one of the nation's top bank executives, William B. Harrison Jr. is surprisingly accustomed to the background. At the University of North Carolina in the 1960's, he warmed the bench on a...
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Oct 27, 2006 · J. P. Morgan Chase & Company’s chairman, William B. Harrison Jr., architect of the biggest bank merger in the nation’s history, plans to retire at the end of the year and expects to hand the...
