At its annual investor day in New York, management offered updates on JPMorgan's four main business lines but did not upgrade profit targets signaling an expectation of slow, steady growth over the medium term. JPMorgan has spent much of the last decade capitalizing on healthy markets and strong customer demand to prepare for hard times, Chief Executive Jamie...
Takeovers in the financial industry have begun to heat up as established players have snapped up fintech upstarts.
JPMorgan unveiled some major climate initiatives ahead of its investor day. CNBC's Wilfred Frost reports.
Under the new policy, JPMorgan will stop funding new oil and gas drilling projects in the Arctic.
NEW YORK, Feb 25- JPMorgan Chase& Co executives are unlikely to provide new financial targets at the bank's annual investor day on Tuesday, and instead will use the forum to showcase a clean-energy initiative, analysts said. Nonetheless, Wall Street pays close attention to JPMorgan's investor day, where Chief Executive Jamie Dimon and other senior leaders offer...
Feb 14- Citigroup Inc kept its Chief Executive Officer Michael Corbat's 2019 compensation unchanged at $24 million, according to a regulatory filing on Friday. Corbat's total compensation included a base salary of $1.5 million plus cash bonuses of about $6.75 million, equity awards of nearly $7.9 million, and a long-term performance based pay worth $7.9...
Companies with CEOs who make liberal use of positive words like "growth" during earnings calls outperform their counterparts, a study finds.
WASHINGTON, Feb 11- Federal Reserve Chair Jerome Powell told Congress on Tuesday that the U.S. economy is in a good place, even as he cited the potential threat from the coronavirus in China and concerns about the economy's long-term health. With risks like trade policy uncertainty receding and global growth stabilizing, "we find the U.S. economy in a very good...
Feb 11- Wells Fargo& Co Chief Executive Charles Scharf announced his first major reshuffle on Tuesday, promoting several executives to new roles while also tapping a JPMorgan veteran to head consumer lending. The latest addition, Mike Weinbach will join the firm after 16 years at JPMorgan to lead the San Francisco- based lender's new consumer lending division...
Feb 11- Wells Fargo& Co Chief Executive Charles Scharf announced his first major reshuffle on Tuesday, promoting several executives to new roles while also tapping a JPMorgan veteran to head consumer lending. Scharf, a former JPMorgan executive who was once a Jamie Dimon protege, has already brought on several former colleagues from the No.1 U.S. bank since...
Feb 7- Bank of America Corp kept Chief Executive Officer Brian Moynihan's 2019 compensation flat at $26.5 million, according a filing on Friday. For instance, Morgan Stanley's board made the rare move of cutting CEO James Gorman's pay 7% to $27 million for 2019 in an effort to reduce expenses. In 2018, Moynihan was awarded a 15% increase in total compensation...
U.S. stock futures were pointing to higher open after the Dow fell modestly, the S&P 500 rose slightly and the Nasdaq logged another record high.
CNBC recaps what the world's political and leaders discussed when they convened at the 2020 World Economic Forum in Davos, Switzerland this week.
Jan 23- JPMorgan Chase& Co Chief Executive Officer Jamie Dimon got a half-million-dollar raise for 2019, bringing his total compensation for the year to $31.5 million, the company said in a filing on Thursday. Under Dimon, JPMorgan reported net income of $36.4 billion for 2019, up from $32.5 billion a year earlier, and a return on tangible common equity of 19%, up...
Jan 23- JPMorgan Chase& Co Chief Executive Officer Jamie Dimon will get a nearly 2% raise in compensation for 2019, the Wall Street bank said on Thursday, bringing his total pay to $31.5 million.
2019 was a banner year for J.P. Morgan, the biggest U.S. bank by assets.
"By and large this is the time to break toward normalcy and bring forward balance," Jacob Frenkel said in a CNBC interview from Davos on Thursday.
Speaking at the World Economic Forum in Davos, Dimon told CNBC that capitalism is not perfect but is capable of fixing the problems of today.
The Dow was poised to get back most of Tuesday's losses when trading on Wall Street opens on Wednesday.
"Right now people think central banks around the world can do whatever they want. They can't," J.P. Morgan Chase CEO Jamie Dimon said.
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