Kicked upstairs?_其他_趣味英语-查字典英语网

Kicked upstairs?

- Priest into President, Time magazine, November 6, 1939.

2. When J.P. Morgan announced in September 2004 that it was acquiring a majority interest in Highbridge, the hedge fund had $7 billion under management. By the end of 2009, when J.P. Morgan bought the rest of Highbridge, it had $21 billion. Dubin, who has stuck around despite being made a billionaire in the process, just signed on for a second five-year term as CEO of Highbridge. He says it’s all because of Staley, who increased revenue at the asset management division to $7.97 billion, more than double 2001 levels.

There’s no question that J.P. Morgan Chase’s investment-banking business is the riskiest that the bank is engaged in. For that reason Dimon has made it clear that candidates to succeed him must have experience running the unit. By 2009, co-CEOs Steve Black and Bill Winters had turned around the business and steered it deftly through the credit crisis, putting it on track for a record year in both revenue and earnings -- $28.6 billion and $6.9 billion, respectively. But Dimon had decided by the end of the year that neither man was going to replace him. So he made changes. Black was kicked upstairs, Winters left the firm, and Staley was put in charge of the investment bank.