Source: Zim man lands top JP Morgan post | The Herald
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 non-financial 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 f 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.