Wall St. Journal reports that J.P. Morgan Chase & Co. boss James Dimon is widely hailed as the king of U.S. banking. But he is struggling with a new effort to conquer other parts of the world.
The New York company's investment bank was No. 1 in global market share in the first half of 2011, leapfrogging over rivals. One reason: As competitors teetered during the financial crisis, J.P. Morgan's last-bank-standing stature lured giant companies. They hoped hiring the bank to underwrite stock and bond deals would be seen as a sign of strength.
But a year into a new push for more corporate-loan business outside the U.S. that would help J.P. Morgan reduce the dependence on its saturated, increasingly regulated home country, the company's profits elsewhere slipped in 2010…
Read more at http://online.wsj.com/article/SB10001424052702303982504576427821186396688.html
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