JPMorgan's Successes and Challenges in the Banking Industry.
TL;DR Summary
JPMorgan's acquisition of First Republic Bank has resulted in a $3 billion contribution to net interest income, $2.6 billion accounting gain, and $200 billion in wealth-management money. The bank's executives noted that First Republic's premium locations cover half of their existing wealth-management clients, providing an opportunity to go up-market.
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