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JPMorgan eyes US$1.4b in cost savings in 2015 mainly in consumer, investment banking

Mr Pinto said it's easier to pay its market employees less now and still compete with rivals because trading revenues have shrunk in the industry.

New York

JPMORGAN Chase & Co said on Tuesday that it aims to save about US$1.4 billion in annual expenses, primarily in consumer and investment banking, as a proposed government requirement to hold more capital is expected to pinch profits.

The largest US bank by assets expects...

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