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Investment banking still has upside potential despite revenue slide: JPMorgan president Daniel Pinto

INVESTMENT banking activity has slowed significantly year on year, says JPMorgan Chase's president and chief operating officer Daniel Pinto, but the base of comparison is a "massively elevated" one.

Pinto, who is also chief executive of JPMorgan's corporate and investment bank, noted that net revenue for global investment banking came in at a record US$132 billion in 2021.

He estimates this figure will come down 43 per cent, to US$78 billion this year, which would be a "big drop" but is in fact similar to levels seen in the 2010s.

"It's not misaligned with what we have seen in the past. And I think that there will be upside going forward," he said.

Pinto, who moved from London to New York City last...

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