J.P. Morgan Chase Hires Welch as Advisor

J.P. Morgan Chase & Co. hired Jack Welch, former chairman and chief executive of General Electric Co., as an advisor to the firm, telling employees he will help develop an “integrated corporate culture.”

Welch, 65, will work with Chief Executive William Harrison Jr. and senior management, Harrison said. The firm also will start a leadership institute to be set up by Vice President James Lee.

Bringing in Welch and setting up the leadership institute are the latest moves by Harrison, who describes himself as the company’s “resident psychiatrist,” to smooth divisions among employees from Chase Manhattan Corp., J.P. Morgan & Co. and Robert Fleming Holdings Ltd., which came together in 2000.