GO
Loading...

Enter multiple symbols separated by commas

JPMorgan Asset Management Predicts Profit

JPMorgan & Chase's asset management arm expects to be profitable in the fourth quarter, despite worldwide turbulence from the global financial crisis, the unit's chief executive said on Tuesday.

JPMorgan Asset Management, whose headcount is down 44 percent this year amid the world's worst financial crises in decades, could also consider hiring more people next year if the global
situation doesn't get worse, Chief Executive Jes Staley told Reuters in an interview.

His unit, which manages $1.2 trillion in assets, has cut its headcount to about 900 from around 1,600 at the beginning of the year, as global stock markets have tumbled on fears of a prolonged global recession and amid a wave of bank failures and government-led bailouts.

JPMorgan Asset Management previously reported net income of about $350 million in the third quarter, down from about $500 million in the same period of the year before.

Banks

  • Jamie Dimon

    JPMorgan Chase's officials haven't done enough to show what the company is doing right, leading to shareholders disapproval.

  • Attorney General Loretta Lynch enters a packed news conference at the U.S. Attorneys Office of the Eastern District of New York following the early morning arrest of world soccer figures, including officials of FIFA, for racketeering, bribery, money laundering and fraud on May 27, 2015 in New York City.

    U.S. legal authorities said they have the jurisdiction to go after some FIFA officials for corruption charges.

  • Jeffrey Lacker, president of the Federal Reserve Bank of Richmond.

    Policymakers must ensure that creditors must be willing to let firms fail in order to restore discipline, a top Fed official said.