Zim man lands top JP Morgan post

A THIRTY-YEAR old Zimbabwean man, Tadiwa Mubvumbi, has made history after he was
recently appointed the assistant vice president of United States’ biggest bank, JP Morgan
Chase & Co, which is also the world’s largest bank by market capitalisation.

Efforts to contact him were fruitless yesterday but Mr Mubvumbi, a chartered accountant
by profession, with 7 years of experience in the global financial services sector,
confirmed the appointment on his business and employment-focused social media
platform LinkedIn account.

Mr Mubvumbi said he was ready for the challenges and opportunities associated with his
new job.

“I am excited to share that I am starting my new position as assistant vice president at JP
Morgan Chase & Co. Grateful and ready for the new opportunities and challenges that
beckon. We have an appointment with the future,” Mr Mubvumbi wrote.

Prior to his appointment, the young Zimbabwean worked at JP Morgan in London. He has
extensive assurance and advisory experience from his time with BDO UK, Mazars UK,
KPMG Zimbabwe and KPMG Botswana and describes himself as a seasoned learning
facilitator on in-house training, concentrating mostly on audit methodologies and
International Financial Reporting Standards.

“I also have an insatiable appetite for excellence and I believe in doing what people say
you cannot do, continuously engaging myself in unmitigated feats. Apart from
accounting and auditing I also have a keen interest in the Legal, regulatory and
compliance aspects of my clients and businesses in general as well as overall nonfinancial risk management aspects.

“Having a keen interest in community-based activities, educating and or coaching of
young people, I have been a member of the Junior Achievement Zimbabwe (JAZ) since
2013 and continue to work with the JAZ to date as an Alumni volunteer on various
projects sponsored by Nedbank Zimbabwe, First Capital Bank and many others,” Mr
Mubvumbi says.

Additionally, he describes himself as someone who is an avid grassroots football
developer and/or administrator and enjoys marketing football talent as part of his social
activities.

JPMorgan Chase & Co is an American multinational financial services company
headquartered in New York City and incorporated in Delaware. It is the largest bank in
the United States and the world’s largest bank by market capitalization (as of 2023). As
the largest of the Big Four banks, the firm is considered systemically important by the
Financial Stability Board.

The firm’s early history can be traced to 1799, with the founding of Chase Manhattan
Company. In 1871, JP Morgan & Co was founded by JP Morgan who launched the House
of Morgan on 23 Wall Street as a national purveyor of commercial, investment, and
private banking services.

The present company was formed as the two predecessor firms merged in 2000, creating
a diversified holding entity. It is a major provider of investment banking services in the
Bulge Bracket, through corporate advisory, mergers and acquisitions, sales and trading,
and public offerings.

With US$3,67 trillion in total assets, JPMorgan Chase is the fifth-largest banking
institution in the world. The firm operates the largest investment bank in the world by
revenue. It occupies 24th place on the Fortune 500 list of the largest U.S. corporations by
revenue.

It produces institutional research on financial markets, economics, geopolitics, and
personal finance across its business lines.

The company’s balance sheet, geographic footprint, and thought leadership has yielded a
substantial market share in banking and a high level of brand loyalty.

Alternatively, it receives routine criticism for its risk management, broad financing
activities, and large-scale legal settlements.

JPMorgan Chase, in its current structure, is the result of the combination of several large
US banking companies since 1996, including Chase Manhattan Bank, JP Morgan & Co.,
Bank One, Bear Stearns and Washington Mutual.

Going back further, its predecessors include major banking firms among which are
Chemical Bank, Manufacturers Hanover, First Chicago Bank, National Bank of Detroit,
Texas Commerce Bank, Providian Financial and Great Western Bank.

The company’s oldest predecessor institution, The Bank of the Manhattan Company, was
the third oldest banking corporation in the United States, and the 31st oldest bank in the
world, having been established on September 1, 1799, by Aaron Burr.-The Herald