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

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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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