JPMorgan CEO Defends Bank Size, Breadth of Offerings
Reuters Jamie Dimon, CEO of JPMorgan Chase, the largest U.S.-based bank, defended the size and business model of his company, which has been criticized as being too big and complicated.
Reuters said further, Dimon, in a letter to shareholders with the company’s new annual report, said the company is not a conglomerate and is not necessarily more risky because of its size.
The bank is facing tougher capital requirements from regulators than its rivals, and analysts have questioned whether its returns to shareholders would be better if it were broken up, Reuters added.
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