Meet the Elites Inside the $4 Trillion Global Powerhouse Bank of JP Morgan Chase
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Mustafa V. Koc is also a member of the International Council, and is Chairman of Koc Holding AS, Turkey’s largest multinational corporation. He also sits on the International Advisory Board of Rolls Royce, the Global Advisory Board of the Council on Foreign Relations, is a member of the Steering Committee of the Bilderberg Meetings, a former member of the International Advisory Board of the National Bank of Kuwait, and is Honorary Chairman of the Turkish Industrialists and Businessmen’s High Advisory Council.
Gérard Mestrallet is the Chairman and CEO of GDF Suez, one of the largest energy conglomerates in the world, and is on the board of Suez Environment (one of the major water privatization companies in the world), and also sits on the supervisory board of AXA, a major global French financial conglomerate. He is also an advisory board member of Siemens, and is a member of the European Round Table of Industrialists and the International Business Council of the World Economic Forum.
John S. Watson is the Chairman and CEO of Chevron Corporation. He is on the board of the American Petroleum Institute and is a member of the National Petroleum Council, the Business Roundtable, the Business Council, the American Society of Corporate Executives, and the Chancellor’s Board of Advisors of the University of California Davis. He is also a member of the International Business Council of the World Economic Forum.
The Chairman of JPMorgan Chase International, Jacob A. Frenkel, is Chairman and CEO of the Group of Thirty, and a member of the International Council. He is also a former Vice Chairman of American International Group (from 2004 to 2009, when it was rescued with the massive government bailout); the former Chairman of Merrill Lynch International (from 2000 to 2004), and the former Governor of the Bank of Israel (from 1991 to 2000). Frenkel was an Economic Counselor and Director of Research at the International Monetary Fund (from 1987 to 1991) and prior to that he was the David Rockefeller Professor of International Economics at the University of Chicago (from 1973 to 1987). In addition, Frenkel is the former Editor of the Journal of Political Economy, former Vice Chairman of the Board of Governors of the European Bank for Reconstruction and Development, former Chairman of the Board of Governors of the Inter-American Development Bank, and a former member of the International Advisory Board of the Council on Foreign Relations. Frenkel is currently a member of the board of directors of the National Bureau of Economic Research (NBER), a member of the Trilateral Commission, member of the International Advisory Council of the China Development Bank, member of the board of the Peterson Institute for International Economics, member of the Economic Advisory panel of the Federal Reserve Bank of New York, member of the Council for the United States and Italy, member of the Investment Advisory Council of the Prime Minister of Turkey, and sits on the board of Loews Corporation.
To sum: it should be clear, from the evidence, that the leadership of JPMorgan Chase is not an isolated group of individuals involved in finance and exclusively relegated to the banking world, but a highly networked and influential group consisting of central figures in the global plutocracy – referred to as the "Transnational Capitalist Class" – with significant economic, social and political power. To refer to JPMorgan Chase simply as "a bank" is like referring to the United States as just "a country." A geopolitical force unto itself, and a conglomerate embedded within a transnational network of elite institutions and individuals, JPMorgan Chase goes beyond the financial indicators. Put simply, it is one of the most powerful banks in the world.