June 24, 1997
France's Alcatel Alsthom said it and San Jose-based Cisco Systems Inc. agreed to combine their expertise in Internet software and telecommunications networks. Alcatel will provide know-how in phone- networking systems, while Cisco will pool its expertise in Internet technology. "Both companies complement each other well," said J.P. Morgan & Co. analyst Sean Faughnan. "In the past, Cisco focused on data applications, while Alcatel focused on voice applications." Sector Spotlight, D5.
May 20, 1987
The 2nd U.S. Circuit Court of Appeals in New York granted a stay of the Fed's April 30 decision allowing subsidiaries of Citicorp, J. P. Morgan & Co. and Bankers Trust New York Corp. to underwrite and deal in certain securities. The decision by the three-judge appeals panel on an emergency motion by the Securities Industry Assn. delays the Fed's ruling until after a June 22 hearing.
September 24, 1998
J.P. Morgan & Co. said it added seven people to its offices in California, including its first municipal finance employees in Los Angeles, to improve its West Coast public finance coverage. Garth Salisbury, a vice president who transferred from the company's New York office to San Francisco last month, will lead the public finance team for the Western U.S. J.P.
March 12, 1999 |
J.P. Morgan & Co. Chairman Douglas Warner III got about $7.4 million in compensation last year, including stock options, while the bank's profit dropped 34% to $963 million, according to a government filing Thursday. He also realized another $5.2 million on options exercised last year, boosting the amount he took home to $12.6 million. In 1997, Warner's pay package was about $7.6 million, including options and a higher bonus. He also realized $3.
June 20, 1989
J. P. Morgan to Underwrite Corporate Debt: J. P. Morgan & Co., the powerful New York commercial bank, received Federal Reserve Board approval to underwrite corporate bonds, marking a significant expansion of commercial banks into investment banking activities. The Fed's decision, to allow subsidiary J. P. Morgan Securities to underwrite and deal in corporate debt securities, is expected to be the first of several such approvals. Other applications are pending at the Fed from Chase Manhattan Corp.
January 15, 1991 |
Three of the nation's biggest banking companies on Monday reported profits for the fourth quarter of 1990 but showed a mixed performance for the year. Chase Manhattan Corp., First Chicago Corp. and J. P. Morgan & Co. all said problems with commercial real estate loans and the weak economy adversely affected earnings. J.P. Morgan & Co.
September 11, 1986
Robert V. Lindsay, president of J. P. Morgan & Co. since 1980, announced Wednesday that he would retire at the end of this year, ending a 37-year career with one of the world's most prestigious financial institutions. The New York-based banking company said that Lindsay, 60, who also was president of Morgan Guaranty Trust Co., had planned the retirement for some time. Named to replace Lindsay is Dennis Weatherstone, chairman of the executive committee.