×

JPMorgan 'tech company' claim nixed by reality?

Timothy A. Clary | AFP | Getty Images

JPMorgan is a technology company. That's what Chief Financial Officer Marianne Lake told investors on Tuesday.

In a broad sense, she's right.

Behind its $2.4 trillion balance sheet, JPMorgan employs thousands of developers and uses technology better than many rivals. It nevertheless comes with the risks and returns of finance.