Baseline tackled the topic, "Why JP Morgan Chase Really Dropped IBM."
This short piece details the IT spending JP Morgan Chase was putting out vs. its smaller, nimbler purchaser, Bank One.
So why was IBM shown the door? According to author Paul A. Strassmann, "It's not because IBM was not doing its job… No, the objective was to perform radical surgery on the unfavorable economics of JP Morgan Chase."
You'll find some interesting IT metrics in the article.