Each year, JPMorgan Chase's investor day serves as the company's agenda-setting town hall. It lays out its strategy for the year ahead and the benchmarks by which it will measure its success.
Past years have focused on layoffs, with an improvement in mortgage credit and a sharp slowdown in underwriting forcing the bank to eliminate some 19,000 jobs.
This year, before getting to the nitty gritty of the bank's strategy, Chief Financial Officer Marianne Lake addressed the elephant in the room: A growing debate over whether the bank, the largest in the country by assets, would need to split up.
"Our synergies are real," said Lake, pointing to a slide showing some $15 billion in revenue and $3 billion in cost savings shared by the bank due to its wide-ranging business model. Previously, JPMorgan executives had discussed synergies in the range of $6 billion to $7 billion.