Jamie Dimon Wins Again in First Republic Bank Deal

JPMorgan Chase JPM -1.76%decrease; red down pointing triangle & Co.’s purchase of failed First Republic Bank FRC -43.30%decrease; red down pointing triangle boosts the New York bank’s massive loan book and dominant deposit franchise. It gives the megabank a new crop of rich customers at a time when it is trying to expand its wealth-management operation. And it allows Chief Executive Jamie Dimon to once again play the role of industry savior.