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...Dimon held several phone calls with Nikki Haley during the Republican primary election this year, as many New York financiers searched for an alternative to Trump....
...JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control...
...Additional reporting by Joshua Franklin in New York...
...The division has lagged behind rivals such as JPMorgan Chase, Morgan Stanley and BofA’s Merrill Lynch franchise, however....
...mentioned as potential successors....
...In 2019, Dimon tapped Piepszak to become chief financial officer of the whole bank before promoting her to run the Chase business alongside Lake. Internally, they’ve tried to present a united front....
...Raghavan’s move to Citi puts him at the heart of one of the biggest reorganisations of a major bank in years. As Citi’s new head of banking, it also lands him in charge of its most troubled unit....
...JPMorgan Chase captured almost a fifth of all US bank profits in the first nine months of 2023, capitalising on a year of turmoil for the country’s financial sector to emerge even more dominant....
...Raghavan, 57, is a 23-year veteran of JPMorgan Chase, the largest investment bank globally, and had been promoted to sole head of investment banking last month....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...Larger banks such as JPMorgan Chase, Bank of America and Wells Fargo also saw their profits fall in the final quarter of 2023....
...The split between the prosperous economy and the stresses on lower-income consumers is visible in the New York Fed’s chart of auto loan delinquency rates, split out by age: Borrowers under 40, who are likely...
...At first, it was Lazard and Rothschild that Roger Altman’s boutique New York investment bank Evercore had in its sights....
...But JPMorgan has emerged as the industry’s biggest winner, spurred on by its acquisition of failed regional lender First Republic. JPMorgan’s share fell 0.7 per cent in New York....
...He faced a string of critical news articles about his leadership style, while the bank also cut thousands of jobs and suffered from a slowdown in investment banking activity....
...Bank of America cut the pay of Brian Moynihan, its top executive, by 3 per cent, or $1mn, to $29mn....
...JPMorgan Chase paid longtime chief executive Jamie Dimon $36mn for 2023, up about 4 per cent from the previous year and his largest remuneration at the US bank....
...Earlier this month New York Community Bank shed more than 50 per cent of its market value after reporting hundreds of millions in previously undisclosed potential losses in its commercial property loan book...
...JPMorgan Chase chief executive Jamie Dimon hit out again at a variety of proposed new US bank regulations, telling lawmakers that the rules risked hurting low-income customers and would add more risks to...
...“I wanted to do 1,000, but they wouldn’t let me,” he told the New York Times in 2012....
...The biggest US banks believe American consumers have weathered the Federal Reserve’s cycle of interest rate rises in good shape, but a new poll shows Joe Biden is getting no credit ahead of November’s election...
...The case, Kirschner vs JPMorgan Chase, hinged on whether banks had broken securities rules after a drug-testing company with roughly $1.8bn of loans had filed for bankruptcy....
...Gorman was chief executive of Morgan Stanley from 2010 until the end of 2023, during which time the bank’s stock price tripled as Wall Street cheered his strategy to expand in wealth and asset management...
...The need to offer higher rates to keep deposits, which is the primary source of funding for banks, has remained a strain on the profit margins of smaller banks, even as larger lenders like JPMorgan Chase...
...JPMorgan Chase has stepped up efforts to lure New York’s top lawyers to its private bank, seeking to break rival Citigroup’s stranglehold on some of Wall Street’s wealthiest clients....
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