What if Bank One Bought Bear Stearns?

US Banker, February, 2002

Sean Ryan, the former Bear Stearns bank stock analyst who now is an analyst at Fulcrum Global Partners, a securities brokerage firm, is reporting rumors that Bank One is considering buying Bear Stearns. This rumor probably is as baseless as most, but the idea may not be a bad one. Although we are highly skeptical about the wisdom of merging commercial and investment banks, a Bank One/Bear Stearns marriage may not be a bad idea.

The biggest stumbling block in most bank/investment bank mergers is the clash of cultures. Investment banks tend to be entrepreneurial and extremely aggressive, while banks have a hard time shaking the mentality of being fairly passive guardians of their clients' money.

But there's a difference at Bank One. CEO Jamie Dimon is fairly new to...

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