When I look at the list, Chase is running the company. Chase paid a lot for J.P. Morgan and it's theirs to run.
That bank is going to be able to offer other things in terms of insurance, savings products and accounts that combine investing products and bank products.
It doesn't mean something can't be orchestrated behind the scenes. This will be decided in the court of public opinion.
This will be a soap opera, with no one writing the script - stay tuned.
You have a guy running equities who is from Chase, but one of the reasons Chase bought Morgan was for equities.
First Union doesn't have much of a currency to get into a bidding contest.
Now he is doing client stuff. Looks like he's been pushed aside.
This follows a natural progression of the company's strategy and the evolution of developing economies.
This is a very good deal for Citigroup. This deal doesn't change the world. But it has pretty attractive terms and it solidifies our earnings expectations for Citigroup.