BANKING: Chase Bank rattles rivals while it builds out branch system North County Times
New York-based financial services giant JPMorgan Chase & Co. is shaking up the local banking landscape with a major push to aggressively expand its branch network. Branches are sprouting up everywhere, from San Marcos to Menifee.
The build-out got a recent lookover by flamboyant New York banking leader Jamie Dimon, chief executive officer of JPMorgan Chase, who recently wrapped up a grassroots bus tour to inspect his troops on the West Coast.
Chase Bank is clearly making a major push to expand its market share in California, and, specifically, in economically healthier pockets of the state such as San Diego County and Southwest Riverside County. It currently holds the No. 3 ranking in numbers of branches in the state, behind the No. 1 spot held currently by Wells Fargo with 1,043 and Bank of America with 956. Wells Fargo has 116 branches in the region with 3,367 workers, while BofA has 81 branches with 2,000 workers, according to figures provided by the banks.
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