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JPMorgan to build overseas

The new head of JPMorgan Chase’s investment bank is to focus on boosting the firm’s revenues from non-US business, it has emerged. Jes Staley yesterday pledged to push on with the overall strategies laid down by the bank’s previous team. He took over the division after a shock reshuffle at the bank earlier this week and some had suggested the plans laid by his predecessors – Bill Winters and Steve Black – were going to be fundamentally overhauled. “We are not planning any dramatic changes but we want to further harness the power of the international franchise,” Staley told the Financial Times.