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The Leadership Blind Spots at Wells Fargo

Harvard Business Review

Former employees have alleged a “soul-crushing” culture of fear and daily intimidation by managers, where they were pressured to reach extreme sales goals, some by breaking the law. The bank has since fired 5,300 employees for the illegal behavior and eliminated retail bank sales goals entirely.

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. MORE ON MANAGING RISKY BEHAVIORS. Five House Rules for Managing Risky Behaviors.

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China’s Slowdown: The First Stage of the Bullwhip Effect

Harvard Business Review

Senate Banking Committee to save his competitors. This is exactly what happened during 2010 and 2011 as the global economy was bouncing back.) During an economic crisis, the exaggerated decline in orders can be especially damaging to upstream suppliers that have high fixed costs tied to production assets. automobile industry.

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

Harvard Business Review

And unfortunately, they suggest that, in our huge, complex financial institutions, major failures of organizational discipline and major losses are likely to recur, despite greater attention to risk management. The Board and the Risk Policy Committee. Why were red flags ignored by senior managers in CIO and in the firm?

Report 8
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The Big Picture of Business – Business Lessons to be Learned from the Enron Scandal

Strategy Driven

I further made recommendations that future charitable requests would go through committee and that the client’s partners and key executives were better suited by serving on community boards, thus polishing their own luster. The Enron scandals of 2001 and 2002 focused only upon cooked books audit committees and deal making.

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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.