When financial sector growth becomes a drag
Even during good times the impact of big finance can be negative for the world
New York
ATTENDEES at last week's JPMorgan Chase annual investor day once again asked the question that no big bank executive wants to hear. Wouldn't shareholders be better off if the company were smaller or broken up?
No, no and no, JPMorgan replied. "Scale has always defined the winner in banking," said Marianne Lake, the company's chief financial officer.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
Barclays Q1 profit falls 12% as mortgage competition, deals drought hit
Deutsche Bank Q1 profit jumps 10% as investment bank outperforms
Latest Singapore 6-month T-bill offering cut-off yield of 3.74% as applications dip