JPMorgan Chase has opened north of 120 branches this year and will continue to plow ahead with expansion while many smaller rivals opt to shutter brick-and-mortar locations amid a pandemic-accelerated shift to digital banking, an executive said.
The head of JPMorgan Chase's assets and wealth management arm said Thursday that asset managers have found remote work so productive that they're not in any hurry to get back to the office, as the work-from-home environment during the COVID-19 pandemic has provided more time for thoughtfulness about financial goals.
JPMorgan Chase has agreed to pay at least $800,000 in back wages and set aside at least $9 million over five years for compensation adjustments in order to settle a yearslong legal dispute with the U.S. Department of Labor in which the bank is accused of underpaying women.
JPMorgan may face a monetary penalty from U.S. regulators for faults in its internal rules and procedures, the bank said on Monday in a regulatory filing, one month after it paid a record settlement in a spoofing probe.
Major global banks are telling their staff based in the U.K. to go back to working from home, following the government’s new implementation of a several weeks-long lockdown measure, which is set to start on Thursday.
The ability of the largest U.S. banks to remain solvent during an extended recession hinges on continued government support because they are in “a significantly shakier position” than they appear, highlighting the need for an immediate halt in dividend payments, according to an advocacy group.
Several of the world's largest banks including Goldman Sachs, Bank of America and JPMorgan will have to face a lawsuits claiming they colluded for nearly a decade to manipulate pricing of certain municipal debt issuances.
Arch Capital upped its ante with a revised offer of about $700 million for Watford Holdings, which looped in private equity firms Warburg Pincus and Kelso, ending a bidding war with Enstar Group over the Bermuda insurer.
JPMorgan has reportedly completed a transaction to own 71% of its Chinese securities joint venture, inching closer to becoming the first foreign bank to gain full ownership of a securities entity, as China continues to welcome international players to its financial industry.
JPMorgan Chase made a strategic investment in U.K. payments technology firm Icon Solutions, the companies said Thursday, as coronavirus lockdowns accelerate demand for digital financial services across the globe.
JPMorgan Chase unveiled two new features available to participants in Liink, its newly rebranded blockchain-based interbank network, as the investment bank ramps up its digital currency and blockchain efforts.
JPMorgan Chase’s digital currency, JPM Coin, is being put to use commercially for the first time this week by a large international technology company that is using it to send cross-border payments, a representative for the investment bank said Tuesday.
A victory for U.S. President Donald Trump in next week’s election would be the best outcome for equities markets, sending the S&P 500 surging upward to 3,900 points by the end of the year, according to JPMorgan Chase.
British bank Barclays has agreed to purchase AARP’s credit card portfolio from JPMorgan Chase and has entered into a new co-branded credit card deal with the nonprofit focused on issues affecting Americans over the age of 50.
J.P. Morgan Securities has reportedly nabbed the Campbell Group, a San Francisco-based wealth-management team, from Merrill Private Wealth Management.
JPMorgan Chase rolled out a new payments offering for businesses that includes fast access to funds, a move that puts the bank into a space dominated by fintechs Square and PayPal.
Goldman Sachs has told some of its London staff to stay home after two employees on its U.K. trading floor tested positive for COVID-19, as global banks scramble to carefully navigate a transition back to the workplace in the pandemic.
U.S. banks including JPMorgan Chase, Citigroup and Bank of America have warned staff that bonuses may fall below typical levels given surprisingly strong profits in certain areas in 2020, according to the Financial Times.
JPMorgan Chase, the largest U.S. bank by assets, on Thursday launched a new 401(k) product that caters to small business owners, as the retirement sector shows signs of recovery from the market shocks of the COVID-19 pandemic
JPMorgan partnered with Clearwater Analytics to launch a product that would help insurers bundle investment and custody accounts while providing management and regulatory support, the companies said on Thursday.