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The Leadership Blind Spots at Wells Fargo

Harvard Business Review

The bank has since fired 5,300 employees for the illegal behavior and eliminated retail bank sales goals entirely. As a result of this fraud, the bank is now being investigated by Federal prosecutors and Congressional overseers. But the fallout is far from over. A blind spot among senior leaders.

Banking 10
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Can JP Morgan Transparently Police Itself?

Harvard Business Review

boss, Ina Drew , the former head of their unit in of the bank's, the Chief Investment Office (CIO); and CEO Jamie Dimon, to whom the CIO reported who oversaw the CIO. Drew quickly retired after the losses, and Iksil and Macris are, according to news reports, leaving the bank.

CIO 8
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How Could I Miss That? Jamie Dimon on the Hot Seat

Harvard Business Review

It's easy to assume that Jamie Dimon, the accomplished CEO of JPMorgan Chase, was simply stonewalling when he claimed that mounting trading losses in his bank were "blown out of proportion" — that he was unaware of how grave the situation really was. But I believe that Dimon literally didn't see perceive disaster unfolding before him.

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The JP Morgan "Whale" Report and the Ghosts of the Financial Crisis

Harvard Business Review

These reports — one from a company task force and a second from a review committee of the board — were overshadowed by two items announced the same day: the related news that the bank board had slashed CEO Jamie Dimon's annual compensation in half — from $23 million in 2011 to $11.5 Well, no duh.

Report 8
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Why Small Businesses Aren’t Hiring… and How to Change That

Harvard Business Review

The largest businesses are able to secure financing with relative ease and on strong terms, including historically low interest rates. It’s not that the banks aren’t lending. Banks actually increased large business loans (defined by the FDIC as loans over $1 million) by 23% from 2007 (pre-recession) to 2012 (post-recession).

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Ending the Shareholder Lawsuit Gravy Train

Harvard Business Review

In the two biggest settlements, the offending companies — Enron and WorldCom — went belly up, leaving their banks stuck with most of the tab, a somewhat more logical outcome but not the standard one. Economy Finance Risk management' Then there are the lawyers. As a result, University of Pennsylvania law professors William W.