Adding fuel to that fear: One of First Marblehead's biggest customers, JPMorgan Chase, recently agreed to buy another student loan firm, CollegiateFundingServices.
Searching for a new business startup endeavor following a short-lived career in private collegiatefundingservices, the trio dove into the niche industry, acting as distributors for an established company before traveling to China to establish their own factory and set the foundation for their own company White Cloud.