As many bank chief executive officers watch nonbank competitors chip away at their businesses, Dennis Weatherstone is giving those outsiders a run for their money.
By concentrating on wholesale and investment banking, J.P. Morgan & Co. avoids many of the problems that face other commercial banks fighting to preserve retail business. Mr. Weathersone fights his battles on Wall Street and globally, striving to maintain long-standing client relationships coveted by rival investment banks and securities firms.
Under Mr. Weatherstone, J.P. Morgan has also expanded its global investment banking businesses. Two-thirds of the company's revenues come from new activities in those areas.