A JP Morgan executive kicked off their annual investor day yesterday by rallying against recent suggestions that the bank may need to break up.
Chief financial officer Marianne Lake said the bank benefitted from its size and would do everything in its power to sustain its current business model.
The Federal Reserve is launching new regulatory measures that some have said will hit JP Morgan the hardest due to its size and complex structure. The new requirements are expected to oblige the US’ largest bank to keep more loss-absorbing capital on its books than its counterparts.
Lake stressed that JP Morgan was undertaking a series of measures to reduce the size of some of its businesses so that its capital requirements would not expand further. Lake said the bank was planning to offload around $100bn (£64.72bn) of deposits that it holds for international clients.