Probably The Biggest Bank Merger Of All Time

JP Citi Logo

Since it was revealed earlier this week that an unnamed investment banker had had the balls to call up Citi and suggest that it might consider a 'merger' with Bank of America, thoughts have turned to what might end up being the biggest bank merger of all time - a tie-up between Citi and JPMorgan Chase!

As The New York Times points out, this deal might not be a silly as it sounds. Citi is looking for a new CEO. JPMorgan Chase boss Jamie Dimon is uniquely qualified for the job - he worked there until he was given the boot a few years back by Citi founder Sandy Weill. And then there's the small matter of the 'synergies' which would accrue in the event that the two banking giants came together - a massive $14bn in cost-savings within 3 years (no doubt more than enough to make the cost-conscious Dimon very excited).

And our friends at FT Alphaville have even suggested a new name for the combined entity - 'The Bank of Dimon', or 'JP Morgan Chase Manhattan Manufacturers Hanover Chemical Bank Robert Fleming Bank One First Chicago Hambrecht & Quist National Bank of Detroit Citi First National Smith Barney Harris Upham Salomon Schroders Wertheim Shearson Travellers Golden State Glendale Handlowy w Warszawie Banamex Associates First Capital'.

READER COMMENTS:

1. 'I love the name - can I have the tee-shirt concession ? '.

2. 'Let's have just one big bank. Or perhaps two - for competition purposes. It would be a bit like the UK and US political systems - imagine the (in)efficiencies!!'.

3. 'Citichase' - You gotta luv it!'.

4. 'No - the new bank would simply be called JPMorgan Chase - Jamie's revenge'.

5. 'How about 'JPiti' ?'

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