LabMorgan, an incubator for new e-finance businesses, is JP Morgan’s response to the biggest challenges facing all large established financial services companies today: how to keep ahead of the changes being wrought by the internet and how to retain talented employees who might be lured by the prospect of dot com riches to take bold new ideas to outside venture capitalists. The bank will plough $1 billion into new ventures this year. If LabMorgan succeeds, it will reinvent the bank. Peter Lee reports
April 01, 2000