Chapter 886
If audio player doesn't work, press Stop then Play button again
Since the 1970s, the situation of mergers and acquisitions in various fields has become more and more intense and numerous. While feeding many investment banks, it is also reshaping the industry pattern.
Hilson Loeb Rhodes of Sanford Weill is one of the typical representatives of this general trend of mergers and acquisitions. By the time it was acquired by American Express, it had developed into the second largest securities brokerage circle in the United States after Merrill Lynch.
Isn't American Express going to enter the field of investment banking? Isn't it normal for me to take over the CEO of American Express with Hilson Loeb Rhodes?
That's what Sanford will thought three years ago!
But now, Sanford will has realized that under the wise power of James Robinson III, his hope has become more and more slim.
Therefore, after hearing Gao Xian's proposal, Sanford Weill's first reaction was to move. Instead of being trapped in a financial service company owned by American Express, he might as well jump out and go to the Bank of America to find the career space he wants.
However, Sanford Weir's next attitude is still very cautious, because he has been psychologically shadowed by James Robinson III. although Sir Gao's gold lettered signboard that always attaches importance to faith is quite well-known in the circle, it can never be a fuel-saving lamp to achieve the position of a big man. There are other schemes in it.
Therefore, Sanford will took the initiative to test: "is it not that goyimi is negotiating with Lehman Brothers on the acquisition? From this point of view, goyimi and American Express are on the opposite side of the competition. Sir Gao recommended me to go to the Bank of America. What does it have to do with this?"
"I can't say it doesn't matter. Just let Lehman Brothers see that with your example, the situation after being acquired by American Express may not be as good as expected." Gao Xian smiled, "In fact, goyimi is very calm about whether the acquisition of Lehman Brothers can succeed. It is a proof that it allows Lehman Brothers to retain its brand and operate independently after it is acquired."
"I don't hide it from you. I ask you to go to the Bank of America in the hope that it can create a high benefit possibility for the United States to enter the banking industry."
Sanford will frowned, "Sir Gao should not be unaware that the glass Steagall Act introduced in the 1930s prohibits companies from providing services of commercial banks and investment banks at the same time."
"You should not fail to see the general trend of reality," Gao Xian said leisurely. "After entering the 1980s, the banking industry began to try to abolish the glass Steagall act, and the glass Steagall act itself was gradually loosened. For example, the provisions on interest adjustment were abolished in 1980 The law on deregulation of savings institutions and monetary control was abolished. "
"It is common for commercial banks who do not have a trust department to take this as a breakthrough, buy and sell company stocks, even participate in the personnel and capital of large companies, and enter a large number of non bank financial businesses."
Speaking of this, Gao Xian picked up the water cup, moistened his voice, and finally concluded: "I think that in the remaining ten years of this century, at least the restriction that 'a company cannot control a commercial bank and an investment bank' in the glass Steagall act will be abolished."
"For more than ten years, is it long for a company's long-term development plan?"
Sanford will nodded, and basically had no doubts about Gao Xian's motivation. "Please allow me to go back and carefully consider Sir Gao's proposal."
"You should think about it." Gao Xian didn't mean to urge. "When you think about it, just contact William Miller directly."
……
Sanford Weill naturally can't just listen to Gao Xian's introduction of the recent situation of the Bank of America. He also needs to know more safely through his own news channels.
At this stage, the Bank of America does suffer serious losses and internal military instability. The reason for the loss is not only a series of non-performing loans in third world countries, especially in Latin America, but also the setback of local expansion.
During this period, the headquarters of Bank of America was located in San Francisco on the west coast of the United States. It expanded northward and acquired Seattle first bank in Peanut Stew. As a result, Seattle first bank was insolvent because of a series of non-performing loans to the oil industry.
The shareholders of Bank of America attributed the cause to the leadership failure of current CEO Samuel almacoste, who was unconvinced and thought it was the mess left by former CEO and current world bank president Alden Clausen.
At present, goyimi holds a little more than 5% of the shares of Bank of America and still has a voice in the board of directors. According to goxian, it is no problem to help Sanford Weill find a senior vice president while the current public is angry.
And then, how Sanford will climbs up depends mainly on his ability.
"The situation of the Bank of America is complicated enough, but it's better than the backwater of the fireman's fund insurance company." Sanford will was thinking, and his new disciple Jamie Damon hurriedly brought a message.
"I just heard that people from Allianz, a German insurance giant, went to James Robinson III's office yesterday to talk about the acquisition of firefighter fund insurance company." Jamie Dimon carefully looked at Sanford will's face, "haven't you received any news?"
The fire in Sanford will's heart was suddenly hooked. James Robinson III deceived people too much. I'm the CEO of firefighter fund insurance company. You ignored me like this.
"Jamie, if I leave American Express, will you come with me?" Sanford will asked in a deep voice.
"Of course!" Jamie Damon nodded without hesitation.
"Great." Sanford will patted Jamie Damon on the shoulder. "I'm going to find James Robinson III."
It seemed that he had expected Sanford will to come. James Robinson III gently threw out a sentence, "you didn't come to me to argue again. Sorry, I don't have time now!"
"Has anyone from Allianz come to talk about the acquisition of firefighter fund insurance company?" Sanford will said: "I'm also the CEO of firefighter fund insurance company. I shouldn't be bypassed."
James Robinson III explained with a smile, "it's not because the matter has not been settled yet."
Sanford will couldn't bear it. "Your real idea is that you don't want to see me in American Express's office?"
James Robinson III replied lightly, "if you want to leave American Express, I won't treat you badly. The salary can be handled according to the expiration of the contract."
Please report us if you find any errors so we can fix it asap!
Since the 1970s, the situation of mergers and acquisitions in various fields has become more and more intense and numerous. While feeding many investment banks, it is also reshaping the industry pattern.
Hilson Loeb Rhodes of Sanford Weill is one of the typical representatives of this general trend of mergers and acquisitions. By the time it was acquired by American Express, it had developed into the second largest securities brokerage circle in the United States after Merrill Lynch.
Isn't American Express going to enter the field of investment banking? Isn't it normal for me to take over the CEO of American Express with Hilson Loeb Rhodes?
That's what Sanford will thought three years ago!
But now, Sanford will has realized that under the wise power of James Robinson III, his hope has become more and more slim.
Therefore, after hearing Gao Xian's proposal, Sanford Weill's first reaction was to move. Instead of being trapped in a financial service company owned by American Express, he might as well jump out and go to the Bank of America to find the career space he wants.
However, Sanford Weir's next attitude is still very cautious, because he has been psychologically shadowed by James Robinson III. although Sir Gao's gold lettered signboard that always attaches importance to faith is quite well-known in the circle, it can never be a fuel-saving lamp to achieve the position of a big man. There are other schemes in it.
Therefore, Sanford will took the initiative to test: "is it not that goyimi is negotiating with Lehman Brothers on the acquisition? From this point of view, goyimi and American Express are on the opposite side of the competition. Sir Gao recommended me to go to the Bank of America. What does it have to do with this?"
"I can't say it doesn't matter. Just let Lehman Brothers see that with your example, the situation after being acquired by American Express may not be as good as expected." Gao Xian smiled, "In fact, goyimi is very calm about whether the acquisition of Lehman Brothers can succeed. It is a proof that it allows Lehman Brothers to retain its brand and operate independently after it is acquired."
"I don't hide it from you. I ask you to go to the Bank of America in the hope that it can create a high benefit possibility for the United States to enter the banking industry."
Sanford will frowned, "Sir Gao should not be unaware that the glass Steagall Act introduced in the 1930s prohibits companies from providing services of commercial banks and investment banks at the same time."
"You should not fail to see the general trend of reality," Gao Xian said leisurely. "After entering the 1980s, the banking industry began to try to abolish the glass Steagall act, and the glass Steagall act itself was gradually loosened. For example, the provisions on interest adjustment were abolished in 1980 The law on deregulation of savings institutions and monetary control was abolished. "
"It is common for commercial banks who do not have a trust department to take this as a breakthrough, buy and sell company stocks, even participate in the personnel and capital of large companies, and enter a large number of non bank financial businesses."
Speaking of this, Gao Xian picked up the water cup, moistened his voice, and finally concluded: "I think that in the remaining ten years of this century, at least the restriction that 'a company cannot control a commercial bank and an investment bank' in the glass Steagall act will be abolished."
"For more than ten years, is it long for a company's long-term development plan?"
Sanford will nodded, and basically had no doubts about Gao Xian's motivation. "Please allow me to go back and carefully consider Sir Gao's proposal."
"You should think about it." Gao Xian didn't mean to urge. "When you think about it, just contact William Miller directly."
……
Sanford Weill naturally can't just listen to Gao Xian's introduction of the recent situation of the Bank of America. He also needs to know more safely through his own news channels.
At this stage, the Bank of America does suffer serious losses and internal military instability. The reason for the loss is not only a series of non-performing loans in third world countries, especially in Latin America, but also the setback of local expansion.
During this period, the headquarters of Bank of America was located in San Francisco on the west coast of the United States. It expanded northward and acquired Seattle first bank in Peanut Stew. As a result, Seattle first bank was insolvent because of a series of non-performing loans to the oil industry.
The shareholders of Bank of America attributed the cause to the leadership failure of current CEO Samuel almacoste, who was unconvinced and thought it was the mess left by former CEO and current world bank president Alden Clausen.
At present, goyimi holds a little more than 5% of the shares of Bank of America and still has a voice in the board of directors. According to goxian, it is no problem to help Sanford Weill find a senior vice president while the current public is angry.
And then, how Sanford will climbs up depends mainly on his ability.
"The situation of the Bank of America is complicated enough, but it's better than the backwater of the fireman's fund insurance company." Sanford will was thinking, and his new disciple Jamie Damon hurriedly brought a message.
"I just heard that people from Allianz, a German insurance giant, went to James Robinson III's office yesterday to talk about the acquisition of firefighter fund insurance company." Jamie Dimon carefully looked at Sanford will's face, "haven't you received any news?"
The fire in Sanford will's heart was suddenly hooked. James Robinson III deceived people too much. I'm the CEO of firefighter fund insurance company. You ignored me like this.
"Jamie, if I leave American Express, will you come with me?" Sanford will asked in a deep voice.
"Of course!" Jamie Damon nodded without hesitation.
"Great." Sanford will patted Jamie Damon on the shoulder. "I'm going to find James Robinson III."
It seemed that he had expected Sanford will to come. James Robinson III gently threw out a sentence, "you didn't come to me to argue again. Sorry, I don't have time now!"
"Has anyone from Allianz come to talk about the acquisition of firefighter fund insurance company?" Sanford will said: "I'm also the CEO of firefighter fund insurance company. I shouldn't be bypassed."
James Robinson III explained with a smile, "it's not because the matter has not been settled yet."
Sanford will couldn't bear it. "Your real idea is that you don't want to see me in American Express's office?"
James Robinson III replied lightly, "if you want to leave American Express, I won't treat you badly. The salary can be handled according to the expiration of the contract."
Since the 1970s, the situation of mergers and acquisitions in various fields has become more and more intense and numerous. While feeding many investment banks, it is also reshaping the industry pattern.Hilson Loeb Rhodes of Sanford Weill is one of the typical representatives of this general trend of mergers and acquisitions. By the time it was acquired by American Express, it had developed into the second largest securities brokerage circle in the United States after Merrill Lynch.Isn't American Express going to enter the field of investment banking? Isn't it normal for me to take over the CEO of American Express with Hilson Loeb Rhodes?That's what Sanford will thought three years ago!But now, Sanford will has realized that under the wise power of James Robinson III, his hope has become more and more slim.Therefore, after hearing Gao Xian's proposal, Sanford Weill's first reaction was to move. Instead of being trapped in a financial service company owned by American Express, he might as well jump out and go to the Bank of America to find the career space he wants.However, Sanford Weir's next attitude is still very cautious, because he has been psychologically shadowed by James Robinson III. although Sir Gao's gold lettered signboard that always attaches importance to faith is quite well-known in the circle, it can never be a fuel-saving lamp to achieve the position of a big man. There are other schemes in it.Therefore, Sanford will took the initiative to test: "is it not that goyimi is negotiating with Lehman Brothers on the acquisition? From this point of view, goyimi and American Express are on the opposite side of the competition. Sir Gao recommended me to go to the Bank of America. What does it have to do with this?""I can't say it doesn't matter. Just let Lehman Brothers see that with your example, the situation after being acquired by American Express may not be as good as expected." Gao Xian smiled, "In fact, goyimi is very calm about whether the acquisition of Lehman Brothers can succeed. It is a proof that it allows Lehman Brothers to retain its brand and operate independently after it is acquired.""I don't hide it from you. I ask you to go to the Bank of America in the hope that it can create a high benefit possibility for the United States to enter the banking industry."Sanford will frowned, "Sir Gao should not be unaware that the glass Steagall Act introduced in the 1930s prohibits companies from providing services of commercial banks and investment banks at the same time.""You should not fail to see the general trend of reality," Gao Xian said leisurely. "After entering the 1980s, the banking industry began to try to abolish the glass Steagall act, and the glass Steagall act itself was gradually loosened. For example, the provisions on interest adjustment were abolished in 1980 The law on deregulation of savings institutions and monetary control was abolished. ""It is common for commercial banks who do not have a trust department to take this as a breakthrough, buy and sell company stocks, even participate in the personnel and capital of large companies, and enter a large number of non bank financial businesses."Speaking of this, Gao Xian picked up the water cup, moistened his voice, and finally concluded: "I think that in the remaining ten years of this century, at least the restriction that 'a company cannot control a commercial bank and an investment bank' in the glass Steagall act will be abolished.""For more than ten years, is it long for a company's long-term development plan?"Sanford will nodded, and basically had no doubts about Gao Xian's motivation. "Please allow me to go back and carefully consider Sir Gao's proposal.""You should think about it." Gao Xian didn't mean to urge. "When you think about it, just contact William Miller directly."Sanford Weill naturally can't just listen to Gao Xian's introduction of the recent situation of the Bank of America. He also needs to know more safely through his own news channels.At this stage, the Bank of America does suffer serious losses and internal military instability. The reason for the loss is not only a series of non-performing loans in third world countries, especially in Latin America, but also the setback of local expansion.During this period, the headquarters of Bank of America was located in San Francisco on the west coast of the United States. It expanded northward and acquired Seattle first bank in Peanut Stew. As a result, Seattle first bank was insolvent because of a series of non-performing loans to the oil industry.The shareholders of Bank of America attributed the cause to the leadership failure of current CEO Samuel almacoste, who was unconvinced and thought it was the mess left by former CEO and current world bank president Alden Clausen.At present, goyimi holds a little more than 5% of the shares of Bank of America and still has a voice in the board of directors. According to goxian, it is no problem to help Sanford Weill find a senior vice president while the current public is angry.And then, how Sanford will climbs up depends mainly on his ability."The situation of the Bank of America is complicated enough, but it's better than the backwater of the fireman's fund insurance company." Sanford will was thinking, and his new disciple Jamie Damon hurriedly brought a message."I just heard that people from Allianz, a German insurance giant, went to James Robinson III's office yesterday to talk about the acquisition of firefighter fund insurance company." Jamie Dimon carefully looked at Sanford will's face, "haven't you received any news?"The fire in Sanford will's heart was suddenly hooked. James Robinson III deceived people too much. I'm the CEO of firefighter fund insurance company. You ignored me like this."Jamie, if I leave American Express, will you come with me?" Sanford will asked in a deep voice."Of course!" Jamie Damon nodded without hesitation."Great." Sanford will patted Jamie Damon on the shoulder. "I'm going to find James Robinson III."It seemed that he had expected Sanford will to come. James Robinson III gently threw out a sentence, "you didn't come to me to argue again. Sorry, I don't have time now!""Has anyone from Allianz come to talk about the acquisition of firefighter fund insurance company?" Sanford will said: "I'm also the CEO of firefighter fund insurance company. I shouldn't be bypassed."James Robinson III explained with a smile, "it's not because the matter has not been settled yet."Sanford will couldn't bear it. "Your real idea is that you don't want to see me in American Express's office?"James Robinson III replied lightly, "if you want to leave American Express, I won't treat you badly. The salary can be handled according to the expiration of the contract."
