Effects on management
Merger & Acquisitions (M&A) term explains the corporate strategy which determines the financial and long term effects of combination of two companies to create synergies or divide the existing company to gain competitive ground for independent units. A study published in the July/August 2008 issue of the Journal of Business Strategy suggests that mergers and acquisitions destroy leadership continuity in target companies’ top management teams for at least a decade following a deal. The study found that target companies lose 21 percent of their executives each year for at least 10 years following an acquisition – more than double the turnover experienced in non-merged firms.[10] If the businesses of the acquired and acquiring companies overlap, then such turnover is to be expected; in other words, there can only be one CEO, CFO, et cetera at a time.

Types of M&A by functional roles in market
The M&A process itself is a multifaceted which depends upon the type of merging companies.
- A horizontal merger is usually between two companies in the same business sector. The example of horizontal merger would be if a health cares system buys another health care system. This means that synergy can obtained through many forms including such as; increased market share, cost savings and exploring new market opportunities.
- A vertical merger represents the buying of supplier of a business. In the same example as above if a health care system buys the ambulance services from their service suppliers is an example of vertical buying. The vertical buying is aimed at reducing overhead cost of operations and economy of scale.
- Conglomerate M&A is the third form of M&A process which deals the merger between two irrelevant companies. The example of conglomerate M&A with relevance to above scenario would be if health care system buys a restaurant chain. The objective may be diversification of capital investment.

JPMorgan Chase
2004: Banc One Corp. merged with JPMorgan Chase & Co., keeping the name JPMorgan Chase & Co.
Fortune magazine said that “the combined bank will be big and strong in a panoply of businesses,” adding that “the deal has been widely lauded” by investment analysts. The New York
Times said the merger “would realign the competitive landscape for banks” by uniting the investment and commercial banking skills of JPMorgan Chase with the consumer banking strengths of Banc One.

Creation of Modern JPMorgan Chase & Co. (JPMC)
In 2000, J.P. Morgan & Co. merged with The Chase Manhattan Corporation, and was named JPMorgan
Chase and Co. (JPMC)10. Four years later, the company merged with Banc One. This merger established it as a true global financial service leader by bringing on Banc One’s strong consumer banking expertise, an aspect of banking which JPMC had previously lacked. In 2008 JPMC played an important role in helping manage the credit crisis through the acquisition of Bear Stearns, a global investment banking, securities trading, wealth management and brokerage firm founded in 1923. Soon after, on September 25, 2008, JPMC bought most of the banking operations of Washington Mutual from the receivership of the FDIC.
These acquisitions further strengthened the already immense service base offered by the company. In a ranking released by the Federal Financial Institutions Examination Council’s (FFIEC) on December 31, 2008, JPMC was named the largest bank holding company in the nation.11

JPMorgan Chase & Co. Today / corporate personality
JP Morgan Chase and Co. is one of the Big Four Banks of the United States along with Bank of America, Citigroup, and Wells Fargo. It has remained financially strong even during the most difficult economic times. In light of the 2008 crisis, it has joined government efforts to continue lending and help stabilize the recession, as well as introduced solutions to prevent home foreclosures. JPMC has provided billions of dollars in new credit to consumers through credit cards, mortgages, auto and student loans, and to small, mid‐sized, and large companies. It has invested billions of dollars into low and moderate‐income communities through various organizations. It has also contributed millions of dollars and thousands of employee volunteer hours to high‐need neighborhoods across the U.S., and supports hundreds of nonprofit organizations aiming to strengthen communities. The company supports charity and humanitarian efforts in 28 other countries, and has spent over a billion dollars with diverse suppliers to aid those in need.

JP Morgan Chase & Co. has made environmental issues a huge priority by “going green” to express its dedication towards corporate responsibility. In the future, the company expects to have billions invested in renewable energy projects, and to implement means of raising billions more from other institutions for future investment.

JPMorgan Chase & Co. has worked hard to maintain its Fortress Balance Sheet and strong capital position in this challenging environment. It is committed to supporting healthy economic growth and to taking an active approach towards helping the world through these tough times. In particular, it remains committed to safe and sound lending and to being a responsible corporate citizen. JPMC is also working with lawmakers and regulators to establish an improved regulatory structure that meets the needs of a capital system that is global, interconnected, complex and highly dynamic.

http://www.mgt.unm.edu/news/pdf/banking/MGMT473JPMorganChase.pdf
http://www.fundinguniverse.com/company‐histories/JP‐Morgan‐Chase‐amp%3B‐Co‐Company‐History.html