Megabank Consolidations in the United States

About the Book

Megabank consolidations in the United States: The enigma continues, investigates merger of equals among megabanks as a business model and also postulates that higher premiums are paid for the right to integrate with the very large banks versus that paid for the right to integrate with relatively smaller banks. By introducing merger of equals and megabank premium comparatives, the author has filled a void left vacant by previous researchers investigating inorganic growth among banks in the U.S. banking industry.

Decision makers, academicians, policy makers, and students of finance will once more be looking for "what is out there" in order to guide understandings and decisions re the integration aspects among financial intermediaries. The book sought to illuminate a clarity of understanding involving the analysis and interpretation of organic versus inorganic growth among megabanks in the United States. Despite the general destruction of shareholders incremental value brought about through inorganic growth, the enigma continues in that banks proceed to integrate at an accelerating pace over the past two decades, though there was a brief lull early in this new Millennium.

About the Author

Dr. Ashford Maharaj?s research interest in the area of bank consolidations grew out of his close association with some of the bank consolidations involving megabank mergers such as Chemical Bank and Manufacturers Hanover Trust Company, Chemical Banking Corporation and Chase Manhattan Bank N.A., and J.P. Morgan and Chase Manhattan Bank. As a former employee of the original Chemical Bank, the author held a leadership position in helping to shape a culture of diversity among previous in-market bank competitors as Chemical Bank sought to engage in a series of magabank mergers.

Currently Dr. Maharaj is Professor of Finance at Berkeley College, White Plain NY and an adjunct business professor at the City University of New York. The author possesses firsthand knowledge on the merger and acquisition processes involving huge U.S. megabanks that integrate on a merger-of-equals basis. He holds the degrees of Bachelor of Arts with specialization in Economics, Master of Science in Education Administration, and Doctor of Philosophy with specialization in Finance. He also holds postgraduate diplomas in Banking, Business Administration, and Adult Education. Presently, the author resides in the Borough of Queens, New York with his wife and two children and is a columnist for a weekly business publication located in the south Queens area. Dr. Maharaj has also authored Bank Mergers and Acquisitions in the United States 1990?1997 published by Dissertation.com.