Goldman Sachs, Chase, AmEx Make Top 50 'Most Admired'

Goldman SachsNever mind that they may be associated with the financial crisis, bailouts or credit card rate hikes, but four financial giants cracked the top 50 most admired companies list by Fortune magazine.
Apple took the top spot, while Google, Berkshire Hathaway, Johnson & Johnson and Amazon.com rounded out the top five.
Goldman Sachs Group – labeled the “strongest financial services firm to emerge from the recession” – ranked 8th.
“The public at large may still see Goldman as the poster child for the greed that sparked the financial crisis, but its reputation in the business world is stronger than ever: The company shot up 7 places from No. 15 last year,” Fortune said.
Fortune noted that Goldman paid back its $10 billion bailout loan with a 23 percent return to taxpayers in July, and has seen its stock rise 85 percent in the past year.
JPMorgan Chase, another financial giant which took and repaid a bailout, ranked 18th.
“The second-largest U.S. bank holding company emerged from the depths of the financial crisis with a highly profitable investment bank,” Fortune said of Chase, the largest general-purpose credit card issuer in the U.S.
But the magazine stressed its international acquistions by Chase Chief Executive Jamie Dimon, including the financial giant’s assumption of remaining control in a $3.4 billion U.K. brokerage, and the pending purchase of European commodities trading operations from a joint venture of RBS and Sempra Energy.
American Express, arguably the most recognized financial services brand worldwide, ranked 29th on the Fortune most admired listed. AmEx is the most frequently used credit card for purchases. The company has a record of performing well in honors measuring customer ratings. It recently one the top honor as the “Most Trusted Company for Privacy” distinction for the fifth consecutive year, and last year took the top prize among credit card issuers in overall customer satisfaction, according to  by J.D. Power and Associates.
Wells Fargo, one of the nation’s top lenders, ranked 39th. Wells Fargo also fared well among major banks in the latest report from the American Customer Satisfaction Index (ACSI).
Click here for Fortune’s Top 50.

Leave a Reply

Your email address will not be published. Required fields are marked *