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Longtime chairman and CEO of JPMorgan Chase, the largest U.S. bank by assets, and a prominent voice on banking, economic, and tech policy.
Apollo told prospective 2028 associate candidates Thursday it will skip on-cycle recruiting this calendar year, as it did for the 2027 class. Its memo hopes more firms join the delay, after General Atlantic and others paused last year.
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Jamie Dimon has said he could reconsider JPMorgan's Canary Wharf tower if the UK turns hostile to banks, an investment projected to add up to £10bn. The £10bn is a six-year estimate of local impact; the tower itself is put at £3bn.
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John Healey is poised to raise bank taxes in his 28 October budget, the Guardian understands, with one option worth upwards of £2bn a year. The proceeds would help cover higher borrowing costs from the Middle East war, and the banks have already warned in writing that they could move staff and business abroad.
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Schwab will block AI agents that log in with client credentials or browser automation, CEO Rick Wurster said on its earnings call. American Banker reports a view that billions in cash-sweep interest revenue is the real fear.
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JPMorgan CFO Jeremy Barnum said customers who give AI agents their banking credentials may be responsible for misuse or unauthorized transactions. He called the deposit threat from agents familiar, in a quarter when net interest income excluding markets reached $24.7 billion.
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Bank of America CEO Brian Moynihan said 1,000 contractors hired in the second quarter to patch AI-exposed software flaws remain, on top of 3,000 staff. The headcount can anchor a budget; the dollar figure released with it cannot.
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JPMorgan missed on both profit and revenue for the first time in nearly three years, booking $50.17 billion against $51.22 billion expected. Goldman beat by $1.97 billion, and three of the six big banks in Fortune's tally missed on revenue.
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JPMorgan reported third-quarter EPS of $5.57 and said it would have been $5.75 without a $658 million securities loss. Quartz cites a Bloomberg consensus of $5.75 and Yahoo Finance $5.90, so the loss explains the miss in full or only in part.
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Jeff Bezos, Jamie Dimon, Eric Yuan and Bill Gates have each said AI will cut the workweek to between two and four days. The forecasts set an expectation about hours, and how pay and headcount follow is what boards and employees would have to settle.
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Wall Street's six largest banks booked a combined $22bn in third-quarter equity trading revenue, City AM reported. Goldman Sachs led with a 72% rise to $6.4bn on volatility and hedge-fund borrowing, and its chief executive says the peak is hard to call.
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JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report third-quarter results Tuesday, with Morgan Stanley and Bank of America following Wednesday. Oppenheimer has cut its investment banking revenue estimate by 9.5%, and a bank ETF is down 7.7% in a month, according to The Daily Upside.
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Revolut, with more than 80 million customers, says its US offering will be at par with Amex and JPMorgan once it holds a full bank charter. Account features ship first, then cards and loans, with launch targeted for the first half of 2027.
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The TUC says cutting the bank surcharge from 8% to 3% in 2023 cost the UK £6bn over three years. It wants a higher rate at the 28 October budget, so bank finance teams have a scenario to price while the Treasury has not stated its intentions.
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Citi is cutting its investment banking analyst program from three years to two to keep junior bankers from leaving for private equity. Analysts now reach associate rank and pay a year sooner, twice the six months JPMorgan took off its own track.
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JPMorgan Chase CEO Jamie Dimon told Bloomberg TV that risks from AI went up 10-fold after Anthropic's Mythos model. The figure comes without a stated baseline, and the response on record is hundreds of staff working full time on JPMorgan's defenses since it got early access in April.
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Insurers won regulatory approval for more than 80% of their requests to exclude AI-related damages from corporate policies, according to a CSIS analysis. Companies deploying AI agents now hold losses their insurers have decided not to price.
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AI-related job postings at banks such as JPMorgan Chase, Citigroup and Capital One rose 49% this year to 139,819, according to Draup. Most of the growth is in staff who connect teams of AI agents to business lines and staff who keep those agents in check.
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Ford and JPMorgan aim to put up to $2 billion into Michigan's suppliers over ten years, split between Ford contracts and bank financing. Both halves are ceilings aimed at order books, while the partners' own report finds most apprentice starters are not in a trade five years on.
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JPMorgan ended Polymarket's primary banking relationship over regulatory risk in October, around the time ICE put an initial $1 billion in at a roughly $8 billion valuation.
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Singapore-registered Brightray is pitching data centers built by Chinese manufacturer PrefabDC to US buyers, promising to halve two-to-three-year build times. A buyer who takes the faster schedule also takes the risk that Washington bans new types of Chinese data center components.
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